Price Reduced 7.53%

$1,350,000 ($212.73 per sqft)

Est. Mortgage $7,005/mo *

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Price History

$1,460,000
1/19/2023

$1,350,000
5/1/2023

23 Hayward Avenue, Colchester, CT, 06415

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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 7% Cap Rate with a 7.6% ROI and tremendous upside! The main building has 7 units and there is a 2 unit cottage in the rear of the property. This investment opportunity boasts a historically low vacancy rate due to increasing demand for apartment rentals in local market. Current ownership has gut-renovated each unit over the past decade, while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola on top of the 3rd floor penthouse apartment. Renovations include new: electrical, plumbing, insulation, roof, sewer line, energy efficient double pane windows, flooring, drywall, fire rated steel doors, wired fire alarm system, and separately metered electric. All apartments feature separate and tenant paid electric electric baseboard heat. The unit mix is (1) efficiency, (3) 1 beds, (2) 2 beds, and a large 2 bedroom penthouse apartment, approximately 1,800 SF. There are (2) 1 bedroom units in the cottage in the rear of the property. Prime downtown location next to the Town Green where community events are held regularly. Amenities can be found all around and include: restaurants, retail shopping, grocery stores, and service businesses. Very easy and convenient access to Route 2 and Route 85. Only 25 minutes to Hartford, Norwich and New London. One of a kind property, call today to schedule a private tour!

Status:

Active

Type:

Multi-family

Laundry Remarks:

Coin Op Laundry

Units:

Zoning:

R-30

Garage:

Driveway, On Street Parking, Off Street Parking

Heating:

Baseboard

Cooling:

Window Unit

Basement:

Full, Unfinished

Parking:

9-car

Acreage:

0.29

Est. Taxes:

$12,456

Assessment

$457,600

Lot Description:

Level Lot,Lightly Wooded

Elementary School:

Per Board of Ed

Middle School:

Per Board of Ed

High School:

Per Board of Ed

Days on Market:

493

MLS #:

170545645

Community Info

School Info

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Price History

23 Hayward Avenue, Colchester, CT, 06415

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