71 Vine St 13 Unit Apartment Building $1,365,618 CAD ($105,048 CAD/Unit) 7.26% Cap Rate New Britain, CT 06052

Licensed 13-Room Boarding House | $124,500 Gross Income | $72,200 NOI | 7.3% Cap Rate | Prime New Britain Location
Exceptional opportunity to acquire a fully licensed and well-maintained 13-room boarding house located at 71 Vine Street in New Britain, Connecticut. This legal income-producing property offers strong and consistent cash flow with approximately $124,500 in annual gross income and $72,200 in net operating income, representing an attractive 7.3% cap rate at the $995,000 asking price.
Situated on a 0.26-acre lot in one of New Britain's most desirable neighborhoods near Walnut Hill Park, the property contains approximately 4,245 square feet across three stories plus a basement and detached garage. The building features 13 rentable rooms, 3 full kitchens, 3 full bathrooms, on-site laundry, and parking for up to 9 vehicles.
The property is a fully permitted and legal boarding house with all required licenses and annual city inspections current, including a professionally monitored fire alarm system. Tenants are primarily working professionals, with an average tenancy of approximately five years, reflecting the property's stability and desirability. Historically, the property remains nearly fully occupied.
Recent capital improvements include approximately $50,000 in new exterior siding completed last month, a roof replacement completed approximately six years ago, replacement of numerous windows, and extensive updates to flooring, walls, and paint throughout the property. Approximately five rooms have been substantially renovated.
All utilities are included in the rent, with optional summer air conditioning available for an additional monthly fee. The property is located just minutes from downtown New Britain, Central Connecticut State University (CCSU), and public transportation.
This turnkey investment is ideal for cash-flow investors, rooming house operators, and 1031 exchange buyers seeking a stable, professionally maintained asset with a long operating history and significant barriers to entry due to its legal boarding house status.
Financial statements, rent roll, and supporting documentation are available to qualified buyers upon request and execution of a confidentiality agreement.