REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Spectrum Real Estate Consultants

[email protected] +1(401) 334-3334

$ 1,535,000

Est. payment -/mo

Save

Active

23 Hayward Avenue Colchester, CT 06415

12 Beds

9 Baths

6,346 SqFt

UPDATED:

09/18/2024 08:17 AM

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 6,346 sqft

Price per Sqft $241

MLS Listing ID 170545645

Style Units on different Floors

Bedrooms 12

Full Baths 9

Year Built 1780

Annual Tax Amount $13,119

Lot Size 0.290 Acres

Property Description

Rarely available 9 unit multifamily on Colchester town green! Currently offered at a solid 8.0% Cap Rate with tremendous upside! The main building, dating back to 1780 and known as the Joseph Isham House, exudes charm and character that is attractive to prospective tenants. This property offers a lucrative investment opportunity with well-qualified tenants and minimal vacancies, reflecting the high demand for rental properties in the thriving Colchester market. Each unit has been thoroughly renovated by current ownership while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola overlooking the town. Capital improvements over the past decade include: electrical, plumbing, insulation, roof, main sewer line to street, energy efficient double pane windows, vinyl and tile flooring, drywall, fire rated steel doors, wired fire alarm system, separately metered electric panels, landscaping and tree work. The unit mix includes (1) efficiency, (5) 1-beds, (2) 2-beds, and (1) large 2-bed penthouse, each with separate and tenant paid electric water heaters and baseboard heat. Capitalize on high demand as rents continue to soar, with a rent roll that has already seen a remarkable 15% increase from 2022. Don't miss out on this one-of-a-kind opportunity and a chance to outperform most multifamily investments!

Location

State CT

County New London

Zoning R-30

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard

Cooling Window Unit

Exterior

Exterior Feature Porch, Gutters, Lighting

Garage None, On Street Parking, Off Street Parking, Driveway

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description Lightly Wooded, Level Lot

Foundation Concrete, Stone

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

Middle Schools Per Board Of Ed

High Schools Per Board Of Ed

Listed by Tyler Egner • Sky Realty Group

Spectrum Real Estate Consultants

Admin

+1(401) 334-3334

Spectrum Real Estate Consultants

23 Hayward Avenue Colchester, CT 06415

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

GET MORE INFORMATION

Go tour this home

23 Hayward Avenue