Fully renovated, 19-unit brick multifamily building located in a 4-story low-rise structure. This turnkey property features a unit mix of 14 studio apartments and 5 one-bedroom units, all outfitted with premium finishes including granite countertops, marble-tiled bathrooms (floors and walls), luxury vinyl plank flooring, and modern fire alarm and sprinkler systems throughout the building.
Each unit is separately metered, with utilities paid directly by tenants, contributing to the property’s efficient operating profile. Currently in lease-up, the asset is being offered with projected stabilization at 95% occupancy.
There are 15 off-street parking spaces exclusively for tenant use, presently offered at no charge—providing a clear value-add opportunity for the next owner to implement parking fees and optimize income. With a low expense ratio of approximately 30%, this asset operates with minimal overhead and strong cash flow potential.
Apartment Renovations
Each unit has undergone a comprehensive renovation, featuring all new electrical, plumbing, and lighting systems. High-end finishes include granite countertops, white shaker cabinetry with soft-close hardware, and energy-efficient recessed LED lighting throughout. Kitchens are outfitted with full stainless steel appliance packages and complemented by ductless mini-split HVAC systems, providing individualized climate control and operating efficiency.
The interiors reflect a modern, clean design aesthetic, with upgraded trim and finishes throughout. Bathrooms feature large-format tile on both floors and walls, new tubs with full shower enclosures, and contemporary plumbing fixtures—all designed to appeal to today’s discerning urban renter while ensuring durability and low maintenance for ownership.
Energy-efficient windows further enhance operating performance and tenant comfort, contributing to long-term value and reduced capital expenditures.
Common Area Improvements
The building’s common areas, including hallways, stairwells, and the main entrance lobby, have been thoughtfully renovated to create a bright, warm, and inviting atmosphere. High-quality marble tile covers both the floors and walls, elevating the aesthetic appeal while ensuring long-term durability. The refreshed spaces provide a welcoming experience for both tenants and visitors, setting a high standard of design and comfort throughout the property.
Location Overview
East Hartford, located in Hartford County, Connecticut, is a thriving suburban community positioned along the eastern bank of the Connecticut River, directly across from the City of Hartford. As part of the Greater Hartford metropolitan area, East Hartford benefits from proximity to major regional hubs and is strategically situated at the crossroads of New England, with equal access to both New York City and Boston.
The town is home to a number of key landmarks, including Rentschler Field, the home stadium of the University of Connecticut Huskies football team, as well as Goodwin College and the Coca-Cola Bottling Company. These institutions and businesses contribute to East Hartford’s dynamic local economy and provide a robust foundation for residential demand in the area.
East Hartford Housing and Rental Market Overview
The East Hartford housing market remains highly competitive, with strong year-over-year price growth. The median sale price of a home in February 2025 was $278,000, reflecting a 2.8% increase compared to the previous year. The median sale price per square foot in East Hartford has also seen notable appreciation, rising 10.4% to $213 per square foot.
Homes in East Hartford are selling at a slightly slower pace, with an average time on market of 27 days, up from 22 days in the prior year. Despite this, transaction volume has increased, with 32 homes sold in February 2025, compared to 24 homes sold in the same month last year.
This data underscores a continued upward trajectory in both pricing and demand, further solidifying East Hartford as a strong and growing market within the Greater Hartford area.
As of April 2025, the average monthly rent in East Hartford, CT is $1,246, which is approximately 21% below the national average of $1,577 per month. This affordability makes East Hartford an attractive rental market compared to many other U.S. cities.
Rental rates vary by unit type, with studios typically leasing for around $1,005 per month, one-bedroom apartments averaging $1,246, and two-bedroom units generally renting for $1,426. Three-bedroom rentals in East Hartford are available starting at $1,783 per month, with prices increasing based on size and amenities.
This competitive pricing, relative to national averages, presents a compelling opportunity for both residents and investors seeking value in the Greater Hartford area.
