25-27 Imlay Street
- Immediate Scale: A 30-unit asset providing significant cash flow and management efficiency in a single location.
- Strategic Location: Positioned on one of Asylum Hill’s most stable residential blocks, directly adjacent to major regional employment centers.
- Attractive Unit Mix: Consists of 8 studios, 20 one-bedrooms, and 2 two-bedrooms, well-aligned with demand from urban renters and local professionals.
- Proven Value-Add: One-bedroom rents average $1,100 in place, with renovated units achieving approximately $1,500 (~35% upside).
- Recent Capital Improvements: Material capital invested in unit renovations limits future requirements to capture remaining upside.
Property Description
Northeast Private Client Group is pleased to present the exclusive listing of 25–27 Imlay Street, a 30-unit multifamily asset located on one of the premier residential blocks in Hartford’s Asylum Hill neighborhood. This offering provides investors with immediate scale and operational efficiency in a robust workforce housing market. The asset features a diverse unit mix of studios, one-bedrooms, and two-bedrooms, catering to deep demand from the local workforce, including employees at nearby major insurance and healthcare hubs. With 30 units under one roof and valuable on-site parking, the property offers inherent management and maintenance economies of scale. Current ownership has invested materially in the asset, completing unit renovations and significant capital improvements during their hold period. Given its attractive basis, 1960s vintage, and meaningful in-place rent gap, 25–27 Imlay Street presents a compelling value-add opportunity. An incoming operator can build upon recently stabilized operations to capture approximately 35% revenue upside, optimizing rents to market levels while benefiting from limited immediate capital requirements.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,550,000 |
| No. of Units: | 30 |
| Opportunity Zone: | No |
| Price per unit: | $85,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
5801 Ellsworth Ave
Shadyside, Pennsylvania
616 Union St
California, PennsylvaniaBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout