3 Multifamily Properties

Multi-Family for Sale
Catylist Listing ID: 30547329
Property Subtypes: Low-Rise/Garden
Number of Units: 13 Units
Building Size (RSF): 15,323 SF
Gross Building Area: See Agent
Gross Land Area: 0.10 SF
Sale Price: $1,000,000
Unit Price: $76,923.08 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 10.0%
Last Updated: 2/16/2020

Overview / Comments

This is a this turn key portfolio + possible development opportunity in rapidly expanding Downtown Middletown with 9.5% CAP rate.. The property addresses are 22, 40 and 44 Green Street. The portfolio consists of: 5 Family + 4 Family + 4 Family = 13 Total Units. There is also one building lot included in this sale + a detached 4-car garage. Overall, the unit mix consists of (2) 1 bed units, (6) 2 bed units and (5) 3 bed units. The units have various kitchen and bath updates and the majority have hardwood floors throughout. Units are a good size, with EIK and pantry + closets throughout. All three buildings have separate and tenant paid utilities (gas heat and hot water) + separate and updated electric throughout. The furnaces, hot water tanks, roofs and rear porches are all in good condition. The properties have vinyl/replacement windows. There is a laundry room on site for all tenants - owner owned washer/dryers. There is ample off-street parking at each building. This is a GREAT opportunity! DO NOT WALK PROPERTY W/OUT L.A PRESENT. .. Near NEW Harbor Yard Development!

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Middlesex
Tax ID/APN: 5060
Zoning: B-1
Property Located Between: Main Street to Green Street - Properties are at the end of the street on the left.
Total Number of Buildings: 3
Number of Stories: 3
Year Built: 1880
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Gutters, Lighting, Outside Storage Area, Sidewalk
Parking Type: Surface
Parking Description: Detached Garage, Off Street Parking, Parking Lot
Total Parking Spaces: 15
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,457 52,331 82,458
Median Age: 33.01 38.5 40.45
Households: 5,061 22,121 34,280
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