A mixed use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley.
| Website: | https://www.nestseekers.com/5437920 |
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| Address: | 59-65 Maple Chester, CT 06412 |
| Ownership: | Multi-Family |
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| 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 -
Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878 Phone: +1 203-204-9555 | |
| Listing Courtesy of Connor Wenchell of VC Property Group, LLC | |