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$ 895,000
Est. payment /mo
New
7 Broad Street Norwich, CT 06360
10 Beds
7 Baths
5,069 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 5,069 sqft
Price per Sqft $176
MLS Listing ID 24181790
Style Units on different Floors
Bedrooms 10
Full Baths 7
Year Built 1820
Annual Tax Amount $10,660
Lot Size 0.390 Acres
Property Sub-Type 5 Family+
Property Description
Exceptional 7-unit multifamily investment opportunity located in one of New London County's most sought-after residential neighborhoods. Featuring a desirable mix of three 2-bedroom units, two 1-bedroom units, and two studio units, this property offers broad tenant appeal and strong in-place cash flow. Currently 100% occupied with two units recently leased at market rents, the asset benefits from tenant-paid utilities, off-street parking, public water and sewer, and a spacious 0.39-acre lot. With projected stabilized annual income of approximately $133,800 and a projected 14.78% stabilized ROI, investors have the opportunity to further increase cash flow through continued rent stabilization while maintaining strong occupancy. Conveniently located near downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation routes, the property benefits from consistent rental demand and limited multifamily inventory. Property may also be purchased in combination with the nearby 7-unit multifamily property at 202 Broadway, creating a unique opportunity to acquire and operate a 14-unit portfolio within close proximity.
Location
State CT
County New London
Zoning MF
Rooms
Basement Full
Interior
Heating Other
Cooling None
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Anthony Velez • VC Property Group, LLC
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