526 Canterbury Turnpike, Norwich, CT, 06360
19 beds
7 Full / 1 Half baths
2022
7,429 sqft
This exceptional investment opportunity with annual earning potential of $152,000 located in Norwich, CT, includes three adjoining properties totaling 7.76 acres. The portfolio features a completely renovated 4-family property at 526 Canterbury Tpke., where each unit boasts 3 bedrooms, 1 bath, stainless steel appliances, granite countertops, hybrid water heaters, energy-efficient mini splits for heating and cooling, and semi-private decks. The 3-family property at 528 Canterbury Tpke. has undergone extensive updates including siding, roof, and decks. One unit, a 2-bedroom, 1 bath, has been fully renovated with a new kitchen featuring stainless steel appliances, granite countertops, a butcher block coffee bar, a hybrid water heater, energy-efficient mini splits, and a remodeled bathroom. Another 2-bedroom, 1 bath unit has newly installed mini splits and a hybrid water heater, while the third unit, a 3-bedroom, 1.5 bath, is currently being remodeled. Additionally, the land at 514 Canterbury Tpke. may have potential for subdivision into additional building lot/s. Each of the seven units is individually metered for electric which covers heating and cooling and the responsibility of the tenant. The properties are strategically located near major employers such as Electric Boat, the Submarine Base, Pfizer, and local casinos, making them highly attractive to tenants. In addition, there is coin-operated laundry on site, which generates additional revenue. Detailed information sheets and P&L statements are available upon request. This portfolio presents a blend of fully renovated and updated units with significant potential for further development, ensuring a steady rental income. Current Annual gross- $130,000, once 3rd unit is complete, annual income will be at around $152,000. Taxes and assessments reflect all 3 properties combined with accurate/updated taxes info. from July 2024. Listed under Multifamily, MLS 24042939
Status:
Under Contract - Continue to Show
Type:
Commercial
Units:
7
Zoning:
R40
Frontage:
State Road,Paved Road
Garage:
Off Street Parking, Unassigned Parking, Driveway
Heating:
Heat Pump, Wall Unit
Cooling:
Central Air, Ductless, Split System, Wall Unit
Parking:
15-car
Acreage:
7.76
Est. Taxes:
$25,899
Assessment
$778,900
Current Use
Residential multifamily
Utilities
Electric,Phone Available,Cable
Lot Description:
Level Lot
Days on Market:
79
MLS #:
24043703
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Joyce Perlot, eXp Realty Email: joycey787@gmail.com