Listed by Century 21 Allpoints Realty Southington, CENTURY 21 AllPoints Realty
$749,111
18-20 Lawrence Street
Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 7,548
Units 12
Cap Rate 6.50%
NOI $49,015
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 10.30%
Pro-Forma NOI $77,230
Price per SqFt $99
Year Built 1890
Buildings 1
Acreage 0.230
Zoning NX-2
Parking Spaces spaces
Investment Type Value Add
Sale Condition N/A
Turnkey 6-Unit Brick Multifamily | Hartford | 100% Occupied Cash flow from day one
Marketing description
Turnkey 6-Unit Brick Multifamily | Hartford | 100% Occupied Cash flow from day one. This fully occupied, all-brick 6-unit multifamily property showcases true pride of ownership and is ready for its next investor. Featuring gross annual rents of $92,040 ($7,670/month), stabilized occupancy, long-term tenants, and significant recent capital improvements, the heavy lifting has already been done. Major updates include a newer roof (2019-2020), six new hot water heaters installed in 2026, and high efficiency tankless boiler combi systems added in 2017. The property offers gas heat and cooking throughout, washer/dryer hookups in select units, recessed lighting in common areas, and attractive gray laminate and wood flooring. Additional features include a huge fenced-in parking lot with ample off-street parking, generating additional income at $50 per space, plus porches and decks for tenant enjoyment. A long-term third-floor tenant of approximately 25 years helps keep an eye on the property and contributes to its well-maintained atmosphere. Current rents are below market, providing future upside potential for investors seeking increased cash flow. Conveniently located just minutes from major highways, public transportation, shopping, dining, and employment centers, this is a rare opportunity to acquire a well-maintained, turnkey asset with immediate income and long-term growth potential.
Investment highlights
- 100% Occupied 6-Unit Multifamily with stable in-place cash flow from day one
- Gross Annual Income: $92,040 ($7,670/month)
- All-Brick Construction offering durability and reduced exterior maintenance
- Turnkey Asset with significant recent capital improvements already completed
- New Roof (2019-2020)
- Six New Hot Water Heaters (2026)
- High-Efficiency Tankless Combi Boiler Systems (2017)
- Gas Heat & Gas Cooking throughout the property
- Large Fenced-In Parking Lot with additional income potential at $50 per parking space
- Washer/Dryer Hookups in select units
- Recessed Lighting & Updated Flooring throughout common areas and units
- Porches & Decks providing added tenant appeal
- Long-Term Tenant Base with a third-floor resident of approximately 25 years
- Strong Pride of Ownership evident throughout the property
- Below-Market Rents create a clear value-add opportunity for future revenue growth
- Convenient Hartford Location near major highways, public transportation, shopping, dining, and employment centers
- Minimal Deferred Maintenance with major mechanical and capital items already addressed
- Immediate Cash Flow with Long-Term Upside Potential
Listing Contacts
Listed by Century 21 Allpoints Realty Southington, CENTURY 21 AllPoints Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$49,015.00
$4,084.58/mo
Valuation Metrics
0
DSCR
6.54%
Cap Rate
6.54%
ROI
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