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Gregory Clancy

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

$ 1,395,000

Est. payment | -/mo

21 Beds

9 Baths

10,629 SqFt

Save

$ 1,395,000

Est. payment | -/mo

Save

21 Beds

9 Baths

10,629 SqFt

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 10,629 sqft

Price per Sqft $131

MLS Listing ID 24206879

Style Units on different Floors

Bedrooms 21

Full Baths 7

Half Baths 2

Year Built 1910

Annual Tax Amount $16,659

Lot Size 6,098 Sqft

Property Sub-Type Other

Property Description

Two-building mixed-use investment opportunity in Middletown. The offering includes 61 East Main Street with four apartments and two storefronts, plus a separate three-apartment building at 2-6 Flower Street, offering a more private off Main street setting. Six apartments are occupied, while the seventh is being updated with a new kitchen and bathroom. Upon completion and lease-up at the projected rent, the property is expected to offer an approximately 9% cap rate, that's before any income from the two vacant storefronts. Zoned MXI, the storefronts have previously operated as a clothing store, salon and convenience store in past years, offering flexible possibilities subject to zoning guidelines. Additional features include private off-street parking space, wood flooring, same ownership since 2014, units updated/repaired over ownership for housing voucher compliance/inspections, separate utilities, a yard area and visible East Main Street frontage. With a Walk Score of 74, the property is close to Downtown Middletown, restaurants, shops, services, Wesleyan University, the riverfront, public transportation and Route 9. Two buildings, one investment and multiple opportunities to increase income!!! Interior pics will be added prior to active date.

Location

State CT

County Middlesex

Zoning MXI

Rooms

Basement Full

Interior

Heating Hot Water

Cooling None

Exterior

Parking Features On Street Parking, Driveway

Waterfront Description Not Applicable

Roof Type Flat

Building

Lot Description Corner Lot, Sloping Lot

Foundation Concrete

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

High Schools Middletown

Listed by Sacha Armstrong • William Pitt Sotheby's International Realty

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

61 East Main Street Middletown, CT 06457

Gregory Clancy

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

61 East Main Street