287 Central Avenue, Norwich, CT 06360
287 Central Avenue, Norwich, CT 06360
287 Central Avenue, Norwich, CT 06360
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Scalzo Real Estate

Scalzo Real Estate

+1(203) 241-3444
$995,000
Est. payment /mo
6 Beds
5 Baths
4,130 SqFt
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Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 4,130 sqft

Price per Sqft $240

MLS Listing ID 24202778

Style Units on different Floors,Units are Side-by-Side

Bedrooms 6

Full Baths 5

Year Built 1860

Annual Tax Amount $4,340

Lot Size 3,484 Sqft

Property Sub-Type 5 Family+

Property 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.

Location

State CT

County New London

Zoning NC

Rooms

Basement Full

Interior

Heating Hot Water

Cooling Window Unit

Exterior

Waterfront Description Not Applicable

Roof Type Gable

Building

Lot Description Corner Lot

Foundation Concrete

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

High Schools Norwich Free Academy

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Listed by Christian Martinez • VC Property Group, LLC

NEARBY SCHOOL & BUSINESS

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Scalzo Real Estate

Scalzo Real Estate

+1(203) 241-3444

Broker

Broker

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Name

Phone*

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287 Central Avenue