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$800,000
Est. payment /mo
2 Baths
5,460 SqFt
OPEN HOUSE
Sun May 18, 1:00pm - 2:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 5,460 sqft
Price per Sqft $146
MLS Listing ID 24095526
Style Units are Side-by-Side
Half Baths 2
Year Built 1924
Annual Tax Amount $10,111
Lot Size 8,712 Sqft
Property Sub-Type 5 Family+
Property Description
This is a rare opportunity to acquire a fully stabilized retail asset in Downtown Deep River. Additional income generation is possible by monetizing 800sqft of unrented commercial space. Inside the past 5 years the owner has replaced the entire roof, upgraded the electrical service and replaced all of the furnaces. Upon leasing up the existing units along with the 800sqft space in the rear of the building, this property will appraise north of $1.2M. What this means for a potential buyer, is that through an all cash or bridge acquisition, they will be able to pull out 100% of their investment upon refinancing during the 12-24 month lease up period. The income analysis, location, walkability, and quintessential New England charm of downtown Deep River are all important considerations for buyers seeking a dream location for their small business. For non owner-operator investors the deal will provide stable returns and ease of management.
Location
State CT
County Middlesex
Zoning VCD
Rooms
Basement Partial
Interior
Heating Hot Air
Cooling Window Unit
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Flat
Building
Lot Description Corner Lot, Sloping Lot
Foundation Stone
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 Connor Wenchell • VC Property Group, LLC