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$ 2,100,000
Est. payment | /mo
11 Beds
12 Baths
8,500 SqFt
$ 2,100,000
Est. payment | /mo
11 Beds
12 Baths
8,500 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $247
MLS Listing ID 24170551
Style Units on different Floors,Units are Side-by-Side
Bedrooms 11
Full Baths 10
Half Baths 2
Year Built 1975
Annual Tax Amount $12,134
Lot Size 2.560 Acres
Property Sub-Type 5 Family+
Property Description
A mixed-use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley. The offering includes: 59 Maple Street (Chester): 7-unit multifamily asset with an additional ~1,500 SF commercial warehouse on 2.5+ acres. 163 Main Street (Deep River): 5-unit mixed-use property positioned at the gateway to the downtown retail corridor. The portfolio is fully occupied and generates approximately $210,000+ in current gross income, with upside to over $280,000 stabilized, driven by residential and commercial rent growth. At stabilization, the portfolio delivers approximately $175,748 NOI and a 8.37% cap rate, supported by a strong 1.58x DSCR. The possibility to develop the 3rd floor of 163 Main Street into additional units can drive returns even higher! This is a rare opportunity to acquire scale across two supply-constrained markets, combining in-place cash flow with clear mark-to-market upside across both residential and commercial components.
Location
State CT
County Middlesex
Zoning PRD
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Exterior
Parking Features Detached Garage, Driveway
Garage Spaces 1.0
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Treed
Foundation Concrete
Sewer Septic
Water Public Water Connected, Private Well
Schools
Elementary Schools Chester
High Schools Per Board Of Ed
Listed by Connor Wenchell • VC Property Group, LLC
Nearby Locations