6 Unit Multi Family

Multi-Family for Sale
Catylist Listing ID: 30556369
Property Subtypes: Mid-Rise
Number of Units: 6 Units
Building Size (RSF): 5,376 SF
Gross Building Area: See Agent
Gross Land Area: 0.34 SF
Sale Price: $420,000
Unit Price: $70,000 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: 8.5%
Average Occupancy Rate: 100
Last Updated: 1/10/2020

Overview / Comments

Broad St, Meriden -6 Units | 100% Occupied -$420,000 | 8.5% CAP
Truly Turn Key Opportunity
his is a rarely available opportunity to own a truly turn key six unit property on Broad St in Meriden with 8.5% CAP rate and room to increase. The property consists of (6) 2 bed / 1 bath apartments with Historically Low Vacancy and 100% Occupancy. The building was gut renovated in 2004, including Completely Renovated Units that feature: Kitchens – newer ceramic tile, cabinets, counters + appliances, Baths – newer tile, tub surrounds, toilets + vanities and Hardwood Floors Throughout. The utilities are separate and tenant paid. There is updated Electric (2004) with panels in the basement. There is Gas Heat & Hot Water + Gas for Cooking - Steam Boilers w/Radiators and Newer Furnaces. The property also offers: Hardwired Smoke Detectors and all (12) doors are fire-rated, timed common area lights in hallways, basement and exterior, Tenant Storage in Basement (4 in use) + Coin-Op, Shared Laundry in Basement. There is ample, off-street parking in the rear. LOCATION – hear highway, shopping, restaurants, employment!

Additional Details

Nearest MSA: New Haven-Milford
County: New Haven
Zoning: R3
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1930
Year Renovated: 2004
Roof Type: Gambrel
Construction/Siding: Wood Frame
Parking Type: Other
Parking Description: Plenty of off street parking
Total Parking Spaces: 6
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Baseboard, Other
Air Conditioning: Window Unit
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,085 64,099 121,377
Median Age: 34.15 38.24 40.41
Households: 8,663 25,183 48,080
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