23 Hayward Avenue Active Save Request In-Person Tour Request Virtual Tour
Colchester,CT 06415
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 6,346 sqft
Price per Sqft $241
MLS Listing ID 170545645
Style Units on different Floors
Bedrooms 12
Full Baths 9
Year Built 1780
Annual Tax Amount $13,119
Lot Size 0.290 Acres
Property Description
Rarely available 9 unit multifamily on Colchester town green! Currently offered at a solid 8.0% Cap Rate with tremendous upside! The main building, dating back to 1780 and known as the Joseph Isham House, exudes charm and character that is attractive to prospective tenants. This property offers a lucrative investment opportunity with well-qualified tenants and minimal vacancies, reflecting the high demand for rental properties in the thriving Colchester market. Each unit has been thoroughly renovated by current ownership while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola overlooking the town. Capital improvements over the past decade include: electrical, plumbing, insulation, roof, main sewer line to street, energy efficient double pane windows, vinyl and tile flooring, drywall, fire rated steel doors, wired fire alarm system, separately metered electric panels, landscaping and tree work. The unit mix includes (1) efficiency, (5) 1-beds, (2) 2-beds, and (1) large 2-bed penthouse, each with separate and tenant paid electric water heaters and baseboard heat. Capitalize on high demand as rents continue to soar, with a rent roll that has already seen a remarkable 15% increase from 2022. Don't miss out on this one-of-a-kind opportunity and a chance to outperform most multifamily investments!
Location
State CT
County New London
Zoning R-30
Rooms
Basement Full,Unfinished
Interior
Heating Baseboard
Cooling Window Unit
Exterior
Exterior Feature Porch,Gutters,Lighting
Garage None,On Street Parking,Off Street Parking,Driveway
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Lightly Wooded,Level Lot
Foundation Concrete,Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
Middle Schools Per Board Of Ed
High Schools Per Board Of Ed