287 Central Ave, Norwich, CT 06360
- $995,000
- 6
- BD
- 5
- BA
- 4,130
- SqFt
- List Price
- $995,000
- Status
- ACTIVE
- MLS#
- 24202778
- Year Built
- 1860
- Bedrooms
- 6
- Bathrooms
- 5
- Acres
- 0.08
- Living Area
- 4,130
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.
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Additional Information
- Taxes
- $4,340
- Lot Size
- 3,484
- Heating
- Hot Water
- Cooling System Type
- Window/Wall
- Water Source
- Public
- Basement
- Full
- Elementary School
- Per Board of Ed
- High School
- Norwich Free Academy
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Listing courtesy of Christian Martinez from VC Property Group, LLC. (860) 778-6427 (860) 300-3102
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