$ 575,000
291 East Main Street Torrington, CT 06790
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$ 575,000
Est. payment /mo
Active
291 East Main Street Torrington, CT 06790
8 Beds
6 Baths
4,431 SqFt
UPDATED:
08/20/2024 04:19 AM
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 4,431 sqft
Price per Sqft $129
MLS Listing ID 24026201
Style Units on different Floors
Bedrooms 8
Full Baths 6
Year Built 1920
Annual Tax Amount $9,038
Lot Size 6,098 Sqft
Property Description
Attention Investors! Discover a remarkable opportunity at 291 E Main St, Torrington, CT - a turn-key Six-Unit Multi-Family building with a compelling 7.3% cap rate in a prime location. This income-generating property features two spacious 2-bedroom apartments and four well-appointed 1-bedroom units. Benefit from numerous recent upgrades, include newer high-efficiency gas boilers/water heaters, roof ripped and replaced in 2013, as well as updated windows throughout, all designed to minimize maintenance costs. Strategically located near major highways and the vibrant downtown Torrington area, this property offers residents easy access to a variety of shopping, dining, and entertainment options. The nearby Warner Theatre, Museums, Coe Memorial Park, and Burr Pond State Park provide ample recreational opportunities, enhancing tenant appeal. As an investor, you'll appreciate the potential for growth. With a conservative rental increase, this property could achieve a remarkable 9.2% Cap Rate, capitalizing on the strong Torrington rental market that has seen a steady increase over the past year and projected to grow 4.5% by early 2025.Don't miss this exceptional investment opportunity.
Location
State CT
County Litchfield
Zoning LB
Rooms
Basement Full
Interior
Heating Baseboard, Steam
Cooling Attic Fan
Exterior
Garage Attached Garage, On Street Parking, Driveway
Garage Spaces 2.0
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot, Sloping Lot
Foundation Brick, Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Mustafa Muaremi • Regency Real Estate, LLC