30
See all 30 photos
$649,900
Est. payment /mo
7 Beds
5 Baths
3,557 SqFt
Under Contract
65 Shaw Street New London, CT 06320
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Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Under Contract
Purchase Type For Sale
Square Footage 3,557 sqft
Price per Sqft $182
MLS Listing ID 24069261
Style Units on different Floors,Units are Side-by-Side
Bedrooms 7
Full Baths 5
Year Built 1900
Annual Tax Amount $6,908
Lot Size 9,147 Sqft
Property Sub-Type 5 Family+
Property Description
Investors, don't miss this solid value-add opportunity in New London! Located at 65 Shaw Street, this 5-unit multifamily property consists of two buildings: a 3,125 square foot, 4-unit main building and a separate 432 square foot studio unit, which is residential but is also zoned commercial, offering additional potential. The asset performs at a 7.79 cap with no vacancy, with strong upside to run at a 9.03 cap fully stabilized. You will have a mix of 2 bedrooms, 1 bedrooms and a studio unit. Two units have been fully renovated, one partially renovated, and two are ready for updates, creating a fantastic opportunity for any value-add investor. Situated in an area with strong rental demand and steady job growth, this property is perfect for expanding your portfolio.
Location
State CT
County New London
Zoning R-2
Rooms
Basement Full, Unfinished
Interior
Heating Hot Water
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Asphalt Shingle,Gable
Building
Lot Description Corner Lot
Foundation Brick, Concrete
Sewer Public Sewer In Street
Water Public Water In Street
Schools
Elementary Schools Harbor
High Schools New London
Listed by Micah Bailey • Alpha Capital Realty, LLC