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$ 1,200,000
Est. payment | /mo
24 Beds
6 Baths
7,458 SqFt
$ 1,200,000
Est. payment | /mo
24 Beds
6 Baths
7,458 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 7,458 sqft
Price per Sqft $160
MLS Listing ID 24177210
Style Units on different Floors
Bedrooms 24
Full Baths 6
Year Built 1900
Annual Tax Amount $19,161
Lot Size 2,178 Sqft
Property Sub-Type 5 Family+
Property Description
Great investment opportunity in the highly desirable South End! This unique offering includes two buildings on the same lot, providing both immediate cash flow and excellent future income potential. 281-283 Wethersfield Ave features 6 well-maintained units, each offering 4 bedrooms and 1 bathroom, with a total of 7,458 sq ft. The property is fully rented, with most tenants on leases and paying approximately $1,850 per month. Tenants are responsible for their own gas heat, hot water, and electricity, helping keep operating expenses low. The building currently generates approximately $125,400 in gross annual income and delivers strong, consistent cash flow with an attractive cap. 277 Wethersfield Ave offers an exciting value-add opportunity. This 10,692 sq ft building is currently under rehab and has approved plans for 12 two-bedroom units. Major framework has already been completed, and building plans are attached. Once finished, the units are projected to rent for approximately $1,400 per month each, with an estimated gross annual income of about $201,400. A rare chance to own a high-income, multi-building investment property with both stable current returns and significant upside potential!
Location
State CT
County Hartford
Zoning NX-2
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Exterior
Parking Features Parking Lot
Waterfront Description Not Applicable
Roof Type Flat
Building
Lot Description Level Lot
Foundation Brick
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Enrique Quintana • Premier Properties of CT
Nearby Locations