Asylum Hill Area Multi-Family Home

High-Yield Multifamily Opportunity: 30-Unit Opportunity Zone Asset at 132 Collins Street, Hartford, CT

An exceptional investment offering in Hartford’s high-demand Asylum Hill neighborhood, 132 Collins Street represents a meticulously maintained 30-unit brick multifamily property. Listed at $2,800,000, this 21,723-square-foot asset is situated in a federally designated Opportunity Zone, providing qualifying investors with significant tax advantages and capital gains incentives. Family-owned and owner-managed for over 15 years, the property reflects strong pride of ownership, updated infrastructure, and substantial upside potential.

Property & Investment Overview

• Address: 132 Collins Street, Hartford, CT 06105 (Hartford County)

• List Price: $2,800,000 USD

• Status: Pending

• Property Type: Multifamily Building

• Building Size: 21,723 Sq. Ft. (3 Stories, 10 Units per Floor)

• Lot Size: 0.29 Acres (Level Lot with City Views)

• Year Built: 1928

• Annual Taxes: $84,729 (2023)

• MLS ID: 170503652

• Financing: Assumable loan option available (~$1.4M balance at dynamic market terms)

Versatile Unit Mix & Interior Finishes

Spanning three well-structured floors, the building features a diverse mix of 30 residential units designed to capture consistent tenant demand across varied demographics:

• 12 Studio Apartments

• 6 One-Bedroom Units

• 9 Two-Bedroom Units

• 3 Three-Bedroom Units

Interior Features & Modern Updates:

• Flooring: Original, well-preserved hardwood flooring in 28 of the 30 units, as well as in upper-level common areas (first-floor common area equipped with carpet tiles).

• Fenestration: Updated energy-efficient thermopane replacement windows throughout the building.

• Safety: Hard-wired, building-wide fire alarm system.

Utilities, Capital Improvements & Value-Add Revenue

The property boasts robust mechanical systems alongside immediate operational value-add potential:

• Electrical System: Tenant-paid electric utilities featuring updated subpanels and individual circuit breakers in each unit.

• Heating & Plumbing: Natural gas-fired steam heating system and public water/sewer service paid by the owner.

• Roof & Structure: Flat roof system (10 years old) built on solid brick and block foundations with a full unfinished basement.

• Laundry Revenue Opportunity: Basement laundry contract recently cancelled, allowing new ownership to install vendor machines or retain 100% of the laundry income stream.

Strategic Location & Portfolio Expansion Option

Located in Asylum Hill, the building offers immediate access to major Hartford employers, health networks, and public transit.

• Additional Parking Portfolio Add-On: Opportunity to purchase an adjacent single-family residential (SFR) lot with 13 dedicated parking spots for an additional $300,000.

Listing & Brokerage Details

• Listed By: Lisa Cozzi (Century 21 Allpoints Realty)

• MLS Source: SMART MLS