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$525,000
Est. payment /mo
10 Beds
5 Baths
4,885 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 4,885 sqft
Price per Sqft $107
MLS Listing ID 24187715
Style Units on different Floors
Bedrooms 10
Full Baths 5
Year Built 1875
Annual Tax Amount $7,633
Lot Size 7,840 Sqft
Property Sub-Type 5 Family+
Property Description
Turnkey 5-unit multifamily investment opportunity offering immediate cash flow and long-term appreciation potential. The property is currently generating over $77,000 in annual rental income and supports a projected stabilized NOI exceeding $51,000, equating to an estimated 9.81% cap rate and 15.28% projected return on investment. The building features a desirable unit mix, separately metered electric, public water and sewer, owner paid gas heat, and low-maintenance operations. With approximately 4,885 square feet and a strong rental history, this asset is ideally suited for investors seeking dependable income, attractive investment metrics, and a well-positioned multifamily property in Norwich's established rental market.
Location
State CT
County New London
Zoning NC
Rooms
Basement Full
Interior
Heating Steam
Cooling None
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer Public Sewer Connected
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 Locations
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