EXCITING NEWS, ARV has increased to 1.


Property

Website:https://www.nestseekers.com/4233647
Address:
163 Main
Deep River, CT 06417
Ownership: Multi-Family
Type: Multi-Family
Bedrooms: 3 BR
Bathrooms: 2
Area: 4184 sq ft

Financials

Price:$935,000
Annual Taxes:$10,593

Description

EXCITING NEWS, ARV has increased to $1.7 MILLION!!! We met with the town's building inspector and fire marshal for an on-site assessment, and they have expressed interest in seeing the 3rd Floor "Penthouse" get developed into rentable living space. The town needs about 30 days from application and submission of site plans to review the addition for approval. Pre-existing zoning regulations have been adjusted allowing the semi-finished third floor to be converted into a livable penthouse suite, and these revisions took effect on April 17, 2025. What's so great about this, is that we can now broker bridge financing that cuts the required down payment in HALF, for a total estimated Cash to Close of $230k. The beautiful new Penthouse suite will generate an additional $3,750 per month in rental income, pushing the ARV to $1.7 MILLION. This is a once in a life-time opportunity to purchase a Class B asset with very little down and potentially TAKE ALL OF YOUR CASH OUT OF THE DEAL upon closing the back end refinance, not to mention the 19% yearly return. DO NOT MISS OUT ON THIS EXTRAORDINARY OPPORTUNITY.

Amenities

  • Elementary School - Deep River
  • High School - Per Board of Ed
  • Intermediate School -
  • Window Unit

Contact

Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878
Listing Courtesy of Connor Wenchell of VC Property Group, LLC

163-165 Main Deep River CT 06417 USA