39 Smith St

Multi-Family for Sale
Catylist Listing ID: 30315708
Property Subtypes: Mixed Use
Number of Units: 2 Units
Building Size (RSF): 1,312 SF
Gross Building Area: 2,224 SF
Gross Land Area: 0.28 Acres
Sale Price: $309,000
Unit Price: $154,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 39 Smith St.
Usable Size (USF): 1,312 SF
Sale Terms: Cash to Seller
Cap Rate: 7.4%
Last Updated: 10/16/2019

Overview / Comments

The property is fully leased providing a Cap rate of 7.4% with $22,525 NOI.

It located at the Gateway access via I-84/684 to Eastbound New England and Westbound New York, New Jersey and PA. Metropolitan NY and NJ is only one-hour South.

This 1312 s.f. apartment building contains two one-bedroom apartments and multi-car garage. The building contains two floors and a full basement.

The property is located within sight of Exit 5 - I-84 on and off exit ramps in a new growth area at North Main St. in downtown Danbury, CT. The property is in the valuable multi-use CG-20 zone. The CG-20 zone allows a multitude of high end and generous uses including office and medical.

The property is also in the new Danbury "Opportunity Investment Zone" which provides substantial future Capital gains tax advantages.

The property consists of a two-family building built in 1900 that is situated on 0.28 acres of property. There is also a partially refurbished multi-car garage and excellent parking. New privacy fence and upgraded landscaping enhance the exterior of the property.

This vintage 1900 building has been recently updated and renovated with a new roof, hardboard siding, insulation, and gutters. The electrical system in the building has been significantly upgraded and a new washer and dryer installed in the basement. The front and rear porch entrances have been completely rebuilt with materials matching the new siding. The adjacent garage has been partially refurbished and upgraded to include heat and air conditioning. Natural gas, Municipal water and sewer service the building.

This 1312 s.f. apartment building and multi-car garage contains two floors and a full basement. The property is offered for sale at $309,000.

A feasibility site plan has been prepared for the potential construction of a new building on the site.

Please give George F. Walker a call to discuss how this property might meet your investment or commercial real estate needs at 203-733-0692.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,100 (Annual)

Additional Details

Nearest MSA: Bridgeport-Stamford-Norwalk
County: Fairfield
Taxing Authority: City of Danbury
Tax ID/APN: H12159
Zoning: CG-20
Percent Occupied: 100%
Property Located Between: North Main St. and Exit 5 - I-84
Highway Access: The property is located within sight of Exit 5 - I-84 on and off exit ramps in a new growth area at North Main St. in downtown Danbury, CT. at the Gateway access via I-84/684 to Eastbound New England and Westbound New York, New Jersey and PA. Metropolitan NY and NJ is only one-hour South.
Site Description: Situated on 0.28 acres of property. There is also a partially refurbished multi-car garage and excellent parking. New privacy fence and upgraded landscaping enhance the exterior of the property.
Area Description: The property is located within sight of Exit 5 - I-84 on and off exit ramps in a new growth area at North Main St. in downtown Danbury, CT. The property is in the valuable multi-use CG-20 zone. The CG-20 zone allows a multitude of high end and generous uses including office, medical and residential
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1900
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: HardiePlank Siding
Exterior Description: This vintage 1900 building has been recently updated and renovated with a new roof, hardboard siding, insulation, and gutters. The electrical system in the building has been significantly upgraded and a new washer and dryer installed in the basement. The front and rear porch entrances have been completely rebuilt with materials matching the new siding. The adjacent garage has been partially refurbished and upgraded to include heat and air conditioning.
Parking Type: Surface
Parking Description: surface parking on the site is level and plentiful.
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas, Oil
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: Two one bedroom apartments with full kitchens, baths and a full basement for storage
Zoning Description: The property is in the valuable multi-use CG-20 zone. The CG-20 zone allows a multitude of high end and generous uses including office, medical and residential. A feasibility site plan has been prepared for the potential construction of a new building on the site.
Lot Frontage: 77
Lot Depth: 165
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Currently owned by a not for profit Corporation

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,165 78,232 119,472
Median Age: 33.54 36.25 38.3
Households: 9,756 28,056 43,157

Contact

Photograph of Listing Agent

Joseph Michael Struna

Advantage Realty Commercial CTCList Member
Photograph of Listing Agent

George F. Walker

Advantage Realty Commercial Not a member of CTCList
Photograph of Listing Agent

Chris Cosio

Advantage Realty Commercial Not a member of CTCList
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