Price History
$1,460,000
1/19/2023
$1,350,000
5/1/2023
$1,535,000
5/29/2024
23 Hayward Avenue, Colchester, CT, 06415
32 rooms
12 beds
9 Full baths
1780
Units on different Floors
6,346 sqft
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!
Status:
Active
Type:
Multi-family
Laundry Remarks:
Coin Op Laundry
Units:
9
Zoning:
R-30
Garage:
None, On Street Parking, Off Street Parking, Driveway
Heating:
Baseboard
Cooling:
Window Unit
Basement:
Full, Unfinished
Parking:
10-car
Acreage:
0.29
Est. Taxes:
$13,119
Assessment
$457,600
Lot Description:
Lightly Wooded,Level Lot
Elementary School:
Per Board of Ed
Middle School:
Per Board of Ed
High School:
Per Board of Ed
Days on Market:
654
MLS #:
170545645
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Tyler Egner, Sky Realty Group Email: tyler.m.egner@gmail.com