Listing Summary
Prime 30-unit brick multifamily asset for sale at 132 Collins Street, Hartford, CT ($2,800,000). Located in an Opportunity Zone with 21,723 sq. ft. & assumable financing.
Full Description
High-Yield Multifamily Opportunity: 30-Unit Opportunity Zone Asset at 132 Collins Street, Hartford, CT
An exceptional investment offering in Hartford’s high-demand Asylum Hill neighborhood, 132 Collins Street represents a meticulously maintained 30-unit brick multifamily property. Listed at $2,800,000, this 21,723-square-foot asset is situated in a federally designated Opportunity Zone, providing qualifying investors with significant tax advantages and capital gains incentives. Family-owned and owner-managed for over 15 years, the property reflects strong pride of ownership, updated infrastructure, and substantial upside potential.
Property & Investment Overview
-
Address: 132 Collins Street, Hartford, CT 06105 (Hartford County)
-
List Price: $2,800,000 USD
-
Status: Pending
-
Property Type: Multifamily Building
-
Building Size: 21,723 Sq. Ft. (3 Stories, 10 Units per Floor)
-
Lot Size: 0.29 Acres (Level Lot with City Views)
-
Year Built: 1928
-
Annual Taxes: $84,729 (2023)
-
MLS ID: 170503652
-
Financing: Assumable loan option available (~$1.4M balance at dynamic market terms)
Versatile Unit Mix & Interior Finishes
Spanning three well-structured floors, the building features a diverse mix of 30 residential units designed to capture consistent tenant demand across varied demographics:
-
12 Studio Apartments
-
6 One-Bedroom Units
-
9 Two-Bedroom Units
-
3 Three-Bedroom Units
Interior Features & Modern Updates:
-
Flooring: Original, well-preserved hardwood flooring in 28 of the 30 units, as well as in upper-level common areas (first-floor common area equipped with carpet tiles).
-
Fenestration: Updated energy-efficient thermopane replacement windows throughout the building.
-
Safety: Hard-wired, building-wide fire alarm system.
Utilities, Capital Improvements & Value-Add Revenue
The property boasts robust mechanical systems alongside immediate operational value-add potential:
-
Electrical System: Tenant-paid electric utilities featuring updated subpanels and individual circuit breakers in each unit.
-
Heating & Plumbing: Natural gas-fired steam heating system and public water/sewer service paid by the owner.
-
Roof & Structure: Flat roof system (10 years old) built on solid brick and block foundations with a full unfinished basement.
-
Laundry Revenue Opportunity: Basement laundry contract recently cancelled, allowing new ownership to install vendor machines or retain 100% of the laundry income stream.
Strategic Location & Portfolio Expansion Option
Located in Asylum Hill, the building offers immediate access to major Hartford employers, health networks, and public transit.
Listing & Brokerage Details
Quick Glance
- Listing ID:
CL-Connecticut-28428
- Status:
Active
- Year Build:
1928
- Building Size:
21,723 SqFt
- Lot Size:
0.29 Acr
-