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$ 995,000
Est. payment /mo
New
287 Central Avenue Norwich, CT 06360
6 Beds
5 Baths
4,130 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 4,130 sqft
Price per Sqft $240
MLS Listing ID 24202778
Style Units on different Floors,Units are Side-by-Side
Bedrooms 6
Full Baths 5
Year Built 1860
Annual Tax Amount $4,340
Lot Size 3,484 Sqft
Property Sub-Type 5 Family+
Property Description
Opportunity to acquire two Norwich investment properties as a combined portfolio for $995,000. The offering includes a mixed-use property at 287 Central Avenue and a vacant three-family property at 119 Williams Street, providing a combined total of six residential units and two commercial spaces. Central Avenue includes three occupied residential units, one occupied commercial space and one vacant commercial space. All three Williams Street apartments are currently vacant, giving a new owner the ability to establish new leases and execute their own rental and management strategy. The combined unit mix includes two one-bedroom, two two-bedroom and two three-bedroom apartments. This asset will yield a stabilized annual income of $151,500 and an estimated 12.23% pro forma cap rate at full ask. A compelling opportunity to acquire scale, diversified income and meaningful lease-up potential in a single transaction.
Location
State CT
County New London
Zoning NC
Rooms
Basement Full
Interior
Heating Hot Water
Cooling Window Unit
Exterior
Waterfront Description Not Applicable
Roof Type Gable
Building
Lot Description Corner Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Norwich Free Academy
Listed by Christian Martinez • VC Property Group, LLC
NEARBY SCHOOL & BUSINESS