About 478 Prospect Avenue
High-Yield Multi-Unit Investment on the West Hartford Line: Exceptional opportunity to acquire a well-maintained 12-unit brick building on 478 Prospect Ave., ideally located on the Hartford/West Hartford line. All units are very large 1-bedroom apartments with spacious interiors-highly attractive to tenants and easy to lease. The offering also includes the neighboring property 486 Prospect Ave., formerly used as an architect's office, with additional residential units and untapped potential. Currently generating an almost 8 cap, this investment offers tremendous value-add potential. Rents are currently under market, presenting a clear path to increased cash flow and maximized NOI through strategic rent adjustments and light upgrades. This is a rare chance to secure a high-performing asset in a desirable rental area with strong fundamentals. Agent related. Financials in attachments.
Features of 478 Prospect Avenue
| MLS® # | 24112928 |
|---|---|
| Price | $1,390,000 |
| Bedrooms | 16 |
| Bathrooms | 16.00 |
| Full Baths | 16 |
| Square Footage | 8,352 |
| Acres | 0.21 |
| Type | Multi-Family For Sale |
| Sub-Type | 5 Family+ |
| Style | Other |
| Status | Under Contract |
Community Information
| Address | 478 Prospect Avenue |
|---|---|
| Area | N/A |
| City | Hartford |
| County | Hartford |
| State | Connecticut |
| Zip Code | 06105 |
Amenities
| Parking Spaces | 14 |
|---|---|
| Parking | Detached Garage, Parking Lot, On Street Parking, Off Street Parking |
| # of Garages | 2 |
| Is Waterfront | No |
| Waterfront | Not Applicable |
| Has Pool | No |
Interior
| Heating | Hot Water, Radiator, Natural Gas |
|---|---|
| Cooling | None |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Full, Unfinished |
Exterior
| Exterior | Brick |
|---|---|
| Exterior Features | Sidewalk, Deck, Gutters, Lighting |
| Lot Description | Level Lot |
| Roof | Flat |
| Foundation | Brick, Concrete |
School Information
| Elementary | Per Board of Ed |
|---|---|
| Middle | Per Board of Ed |
| High | Per Board of Ed |
Additional Information
| Date Listed | July 23rd, 2025 |
|---|---|
| Days on Market | 53 |
| Zoning | N2-2 |
| RE / Bank Owned | No |
Listing Details
| Office | Premier Re Group LLC |
|---|