252 Sisson AveHartford, CT 06105

Property Details for 252 Sisson Ave

Year built

1920

Lot size

0.18 AC

Property size (Sq ft)

8,742 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment property, located at 252 Sisson Ave in Hartford, Connecticut's desirable West End neighborhood, presents a compelling value-add opportunity. The 1920-built, three-story brick building encompasses 8,742 square feet and features twelve one-bedroom, one-bathroom apartments, each approximately 725 square feet. Currently operating at 85% occupancy, the property generates a net operating income (NOI) of $86,686, representing a 10.20% capitalization rate. A pro-forma analysis projects a significantly improved NOI of $105,313 and a 12.39% cap rate, reflecting substantial upside potential. The asking price is $850,000, translating to $70,833.33 per unit and $97.23 per square foot. The building benefits from five parking spaces, a mix of tandem and fenced rear spaces. Utilities are a blend of tenant-paid electric and owner-paid gas for heat and hot water (served by one furnace and two newer hot water tanks). The property is zoned NX-2 and sits on a 0.18-acre lot. Significant value-add potential exists through unit renovations and rent increases to market rates. The building features fire-rated exterior and interior doors. Trash removal is handled by city services. Its convenient location offers easy access to West Hartford, major highways, and a wealth of local amenities, making it highly attractive to renters. This property is a rare find, offering strong current returns and significant future growth prospects.

Location Insight

City

Hartford

County

Hartford

State

Connecticut

Latitude

41.766

Longitude

-72.7069

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