Opportunity to acquire two Norwich investment properties as a combined portfolio for 995, 000.
287 Central
Norwich, CT 06360
Listing
| Web ID: | 5718509 |
|---|---|
| Website: | https://www.nestseekers.com/5718509 |
Property
| Ownership: | Multi-Family |
|---|---|
| Type: | Multi-Family |
| Bedrooms: | 6 BR |
| Bathrooms: | 5 |
| Area: | 4130 sq ft |
Financials
Price:$995,000
Annual Taxes:$4,340
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.
Amenities
- Elementary School - Per Board of Ed
- High School - Norwich Free Academy
- Intermediate School -
- Window Unit
Contact
Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878
Phone: +1 203-204-9555
Listing Courtesy of Christian Martinez of VC Property Group, LLC