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$550,000
Est. payment /mo
8 Beds
4 Baths
4,449 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,449 sqft
Price per Sqft $123
MLS Listing ID 24194664
Style Units on different Floors
Bedrooms 8
Full Baths 4
Year Built 1890
Annual Tax Amount $9,524
Lot Size 0.570 Acres
Property Sub-Type 4 Family
Property Description
Exceptional opportunity to acquire a fully renovated 4-family investment property offering premium unit quality rarely found in the market. Extensively gut renovated in 2006, the property has been meticulously maintained, with two recently renovated vacant units providing immediate lease-up potential at market rents or an ideal opportunity for an owner-occupant to offset their mortgage with rental income while moving into a recently updated apartment. The property is projected to generate $81,600 in annual gross income with an impressive 23.58% projected cash-on-cash return, making it an attractive opportunity for both investors and owner-occupants alike. All four units are in well-above-average condition, minimizing near-term capital expenditures. Additional features include off-street parking, a spacious yard, an on-site coin-operated laundry room for supplemental income, public water service with an existing on-site septic system, and strong tenant appeal. Whether you're seeking a turnkey cash-flow investment or a high-quality multifamily property with owner-occupant flexibility and long-term upside, this property delivers exceptional value.
Location
State CT
County New London
Zoning R20
Rooms
Basement Full
Interior
Heating Hot Water
Cooling None
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer Septic
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
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Listed by Anthony Velez • VC Property Group, LLC
Nearby School & Business
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