HIGHEST & BEST BY 12PM NOON SUNDAY FEB.25TH! Location, 7.38% cap rate, easily managed and RARE five unit multifamily within walking distance to downtown SONO make this an investors dream. 7 Grove features two separate buildings on one parcel comprising a total of 12 bedrooms and 5 bathrooms on track to bring in a gross income of $144K+, per year. The front building features three 2 bedroom/1 bath units while the rear building has two 3 bedroom/1 bath units; 100% leased. Units 1 & 3 are currently rented below market value. 7 Grove boasts major recent improvements: In 2016 all units were updated with modern amenities including new cabinets, countertops, appliances, flooring and central heating/cooling! In 2020, both buildings received updated roofs and gutters. In 2021, both buildings had chimneys completely rebuilt. In 2022, new vinyl siding was added to the front building along with a replaced front porch and back staircase.. In 2023, steel fire doors were replaced throughout to insure compliance with local code. All units have separate meters (gas & electric w/ owners meter), hot water and cooling/heating.The front building has a walkout basement with laundry hookups to make adding a coin operated common washer/dryer space to this property a breeze. HVAC and water heaters replaced in 2015/16. The heavy lifting is done at 7 Grove so you can hit the ground running with this rare 5 unit investment property. Sellers require flexible closing timeline.
$1,475,000 • 2.00%
Make OfferJames Kitt, Compass Connecticut, LLC
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