Martin & Nelson Apartments

  • Title

    Multifamily Property for Sale

  • City

    Hartford, CT

  • Price

    $1,305,000

  • Cap Rate

    8.08%

  • Gross Leasable Area

    17,535

  • No. Units

    21

  • Price/Unit

    $62,143

  • No. Stories

    3

  • Year Built

    1920

Not found amenities.

Northeast Private Client Group is pleased to present the Martin & Nelson Apartments, a 21-unit multifamily property located in Hartford, CT.

The Martin & Nelson Apartments are comprised of two adjacent buildings on neighboring parcels. 84 Martin Street is comprised of six (6) two-bedroom units, and 133 Nelson Street is comprised of fifteen (15) two-bedroom units. In each building, tenants are responsible for their own heat and hot water which is supplied through individual natural gas fired units. Tenants are also responsible for their own electric expense. The property features ample parking in the rear of the buildings, which both buildings share.

The property has undergone significant capital improvements since purchase in 2014 including a new roof (2014, Nelson % 2015, Martin), electrical upgrade (2014), new parking lot (2017), 50% of boilers replaced (2014), vinyl replacement windows and updated back porches. Unit interiors have also been fully renovated with all kitchens featuring new cabinetry, granite countertops and hardwood floors.

The property is professionally managed with pride of ownership. The property historically has operated at 100% occupancy. All tenants are on annual leases.

Martin & Nelson Apartments Offering Memo