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Gregory Clancy

gcmoney09@gmail.com +1(860) 940-8449

$ 695,000

Est. payment | -/mo

12 Beds

5 Baths

6,013 SqFt

Save

$ 695,000

Est. payment | -/mo

Save

12 Beds

5 Baths

6,013 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 6,013 sqft

Price per Sqft $115

MLS Listing ID 24195431

Style Other

Bedrooms 12

Full Baths 5

Year Built 1860

Annual Tax Amount $7,636

Lot Size 0.500 Acres

Property Sub-Type 5 Family+

Property Description

Fully occupied 6-unit multifamily investment opportunity offering strong in-place cash flow and substantial embedded rental upside. The property consists of four 2-bedroom units, one 3-bedroom unit, and one 1-bedroom unit, currently generating $74,400 in annual gross income with a projected stabilized income of approximately $119,400 based on market rents. At stabilization, the asset supports a projected NOI exceeding $77,000, equating to a 9.69% cap rate and a 14.79% projected return on investment. Investors will appreciate the opportunity to significantly increase revenue through lease turnover and rent normalization rather than extensive renovations. All utilities, including electric and hot water, are separately metered and paid by tenants, with ownership responsible only for heat. Additional features include off-street parking, public water and sewer, and over 6,000 square feet of living area situated on a 0.50-acre lot. A compelling opportunity to acquire a scalable multifamily asset with strong income growth potential in one of Connecticut's most active rental markets.

Location

State CT

County New London

Zoning R40

Rooms

Basement Full

Interior

Heating Steam

Cooling Window Unit

Exterior

Parking Features Driveway

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description Level Lot, Historic District

Foundation Masonry

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Veterans Memorial

High Schools Norwich Free Academy

Listed by Christian Martinez • VC Property Group, LLC

Nearby Locations

GET MORE INFORMATION

Gregory Clancy

REALTOR® | Lic# 0802030

gcmoney09@gmail.com

+1(860) 940-8449

1266 E Main St, Ste 700R, Stamford, CT 06902

265 Washington Street Norwich, CT 06360

Gregory Clancy

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

265 Washington Street