Listing courtesy of Anthony Velez (860) 300-3102, VC Property Group, LLC (860) 300-3102
7 Broad Street, Norwich, CT, 06360
24 rooms
10 beds
7 Full baths
1820
Units on different Floors
5,069 sqft
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.
Status:
Active
Type:
Multi-family
Units:
7
Zoning:
MF
Heating:
Other
Cooling:
None
Basement:
Full
Acreage:
0.39
Est. Taxes:
$10,660
Assessment
$263,400
Lot Description:
Level Lot
Elementary School:
Per Board of Ed
High School:
Per Board of Ed
Days on Market:
15
MLS #:
24181790
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School Info
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