Clearview Apartments | 496-516 Garden St
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Clearview Apartments 496-516 Garden St
37 Unit Apartment Building $3,500,000 ($94,595/Unit) 7.28% Cap Rate Hartford, CT 06112
Investment Highlights
- Value Add Opportunity - Rent Upside
- All Units Have Condo Tax Status
- Stabilized Property
- Solid, Brick Construction
Executive Summary
Excellent opportunity to acquire this 37 unit portfolio, with attractive value-add and reduced tax components. New ownership can enjoy a current 7.3% cap rate and can soon achieve an 9.4% proforma cap rate with some updates and increased rents. High Demand rental market and off-street parking makes renting a breeze! A highly accessible location which is convenient for tenants, Average rents con increase $127 to market level. Call today for more information!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $94,595 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.30 AC |
| Cap Rate | 7.28% | Building Size | 32,914 SF |
| Sale Conditions | Bulk/Portfolio Sale | Average Occupancy | 97% |
| No. Units | 37 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 0.45/1,000 SF |
| Price | $3,500,000 |
| Price Per Unit | $94,595 |
| Sale Type | Investment |
| Cap Rate | 7.28% |
| Sale Conditions | Bulk/Portfolio Sale |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.30 AC |
| Building Size | 32,914 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1968 |
| Parking Ratio | 0.45/1,000 SF |
Unit Amenities
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 22 | - | 900 |
| 3+1 | 2 | - | 1,100 |
| Studios | 1 | - | - |
1 of 1
zoning
| Zoning Code | R3 (Residential) |
| R3 (Residential) |
-
Zack Burnett -
Sandy Strickling -
Sky Realty Group
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Clearview Apartments | 496-516 Garden St
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