34
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$1,975,000
Est. payment /mo
6 Beds
3 Baths
2,453 SqFt
Active
15 Platt Avenue Norwich, CT 06360
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Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,453 sqft
Price per Sqft $805
MLS Listing ID 24163934
Style Units on different Floors
Bedrooms 6
Full Baths 3
Year Built 1890
Annual Tax Amount $6,309
Lot Size 0.290 Acres
Property Sub-Type 3 Family
Property Description
Motivated Seller!! Offered at $1,975,000 - Bottom Line - this stabilized multifamily portfolio consists of 18 units across 5 buildings, plus a multifamily infill redevelopment opportunity that provides significant upside beyond the current in-place 9% ROI. The portfolio includes: 681 N Main Street (4 units) 20 North A Street (4 units) 37 South B Street (3 units) 102 Boswell Avenue (5 units) 72 North Main Street (2 units) 15 Platt Avenue - Multifamily Redevelopment Opportunity (Former 3-Family) The income-producing assets are approximately 90% of pro forma, offering investors strong day-one cash flow with limited operational lift. Remaining upside is achievable through modest rent optimization and continued professional management. Upon full stabilization, the portfolio is projected to generate an estimated 14% fully burdened ROI, not accounting for the resale or redevelopment of the multifamily lot.
Location
State CT
County New London
Zoning MF
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer Public Sewer In Street
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Anthony Velez • VC Property Group, LLC
NEARBY SCHOOL & BUSINESS
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