A mixed use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley.


Property

Website:https://www.nestseekers.com/5437920
Address:
59-65 Maple
Chester, CT 06412
Ownership: Multi-Family
Type: Multi-Family
Bedrooms: 11 BR
Bathrooms: 12
Area: 8500 sq ft

Financials

Price:$2,100,000
Annual Taxes:$12,134

Description

A mixed-use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley. The offering includes: 59 Maple Street (Chester): 7-unit multifamily asset with an additional ~1,500 SF commercial warehouse on 2.5+ acres. 163 Main Street (Deep River): 5-unit mixed-use property positioned at the gateway to the downtown retail corridor. The portfolio is fully occupied and generates approximately $210,000+ in current gross income, with upside to over $280,000 stabilized, driven by residential and commercial rent growth. At stabilization, the portfolio delivers approximately $175,748 NOI and a 8.37% cap rate, supported by a strong 1.58x DSCR. The possibility to develop the 3rd floor of 163 Main Street into additional units can drive returns even higher! This is a rare opportunity to acquire scale across two supply-constrained markets, combining in-place cash flow with clear mark-to-market upside across both residential and commercial components.

Amenities

  • Elementary School - Chester
  • High School - Per Board of Ed
  • Intermediate School -

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