51 Forbes Street, East Hartford, CT for sale

Investment Overview

Northeast Private Client Group, Inc. is pleased to present 51 Forbes Street, a six-unit multifamily property in East Hartford, Connecticut. The single-story, garden-style building was built in 1956 and sits on roughly a half-acre with off-street parking for tenants. Its six apartments break down as five one-bedrooms and one efficiency. The efficiency is a flexible floorplan and can be used like the other units. Building amenities include on-site coin-op laundry and tenant storage lockers. Electricity is separately metered and tenants are responsible for their electric expense. The property is heated by a central natural-gas-fired system that also produces hot water. In place are seven separate gas meters — one for the house and one for each unit — with tenants paying their cooking gas expense directly. This leaves open the option to convert to individual heating systems and move the heat and hot water expense entirely onto the tenant. 51 Forbes Street offers a new owner the opportunity to acquire a manageable-scale, garden-style apartment building in an attractive suburban setting with a clear path to higher rents as leases roll, minutes from Hartford's employment base. Please reach out to the deal contacts for more information.

Investment Highlights

• Value-Add Opportunity
• Turnkey Unit Interiors, Remaining Renovation Opportunity
• Individually Metered Utilities
• Minutes from Hartford
• At the I-84 / I-91 Crossing
• Established Renter Base