19 Chestnut Street, Windham, (Willimantic), CT, 06226

Rental complex for sale! Just shy of $20,000/month rent roll! Currently 97% rented. Most utility expenses are covered by the tenants. 11 units located 3 blocks from ECSU and 8 miles from UConn. University populations are increasing! 38 bedrooms and 11.5 bathrooms total amongst 2 apartment buildings and one single family house. 1 6-family, 1 4-family, and 1 single family. Roughly 13,769 sqft of total living space, 1,176 sqft of additional space. The sale of the complex consists of the properties 27-29 Chestnut Street, 19-25 Chestnut Street, and 49 Spring Street, all in Willimantic Connecticut. The property includes a common area barn and a heated storage garage that can be leased for more income. All properties are in the same location to form one compound. Plenty of off street parking connecting all of the properties together. Plenty of street parking as well. Plenty of value-add opportunities! Turn-key operation ready for a new owner! 2023 Financials: Total 2023 Operating Income: $228,732 Total 2023 Portfolio Expenses: $106,411 -Total taxes: $27,826 -Total insurance: $8,835 -Total utilities: $28,440 -Total property management: $11,000 -Total payroll: $11,000 -Total professional costs: $3,000 -Total repairs & maintenance costs: $10,560 -Total trash removal: $1,750 -Total landscaping/snow removal cost: $4,000 NOI: $122,321 Cap Rate: 9.41% Unit Breakdown: -29 Chestnut, 30 (3rd floor 4 bedroom, 1 bath, 1,579 sqft, $2,000/month income. Utilities: water/sewer and hot water included. Electricity and gas heat paid by tenants.) -29 Chestnut, 20F (2nd floor front unit, 2 bedroom, 1 bath, 800 sqft, $1,400/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -29 Chestnut, 20R (2nd floor rear unit, 2 bedroom, 1 bath, 800 sqft, $1,325/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, 10F (1st floor front unit, 2 bedroom, 1 bath, 800 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, 10R (1st floor rear unit, 2 bedroom, 1 bath, 800 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, Ground (Ground floor unit, 2 bedroom, 1 bath, 1,579 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -19 Chestnut (Ground floor, 5 bedroom, 1 bath, 1,444 sqft, $1,800/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -21 Chestnut (1st floor, 5 bedroom, 1 bath, 1,444 sqft, $2,000/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -23 Chestnut (2nd floor, 5 bedroom, 1 bath, 1,444 sqft, $2,000/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -25 Chestnut (Rented by the room, 1 bedroom vacancy) (3rd floor, 4 bedroom, 1 bath, 1,444 sqft, $1,540/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -49 Spring (Single family, 5 bedrooms, 1.5 bath, 1,633 sqft, $4,000/month income, all utilities included (gas heat/hot water, electricity, water/sewer.)

Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Jake Cordelli, Cordelli Realty LLC Email: jake@cordellirealty.com