New Listing - 06/18/2024
291 East Main Street, Torrington, CT, 06790
8 beds
5 Full baths
1920
4,431 sqft
Attention Investors! Discover a remarkable opportunity at 291 E Main St, Torrington, CT - a turn-key Six-Unit Multi-Family building with a compelling 7.3% cap rate in a prime location. This income-generating property features two spacious 2-bedroom apartments and four wellappointed 1-bedroom units. Benefit from numerous recent upgrades, include newer high-efficiency gas boilers/water heaters, roof ripped and replaced in 2013, as well as updated windows throughout, all designed to minimize maintenance costs. Strategically located near major highways and the vibrant downtown Torrington area, this property offers residents easy access to a variety of shopping, dining, and entertainment options. The nearby Warner Theatre, Museums, Coe Memorial Park, and Burr Pond State Park provide ample recreational opportunities, enhancing tenant appeal. As an investor, you'll appreciate the potential for growth. With a conservative rental increase, this property could achieve a remarkable 9.2% Cap Rate, capitalizing on the strong Torrington rental market that has seen a steady increase over the past year and projected to grow 4.5% by early 2025.Don't miss this exceptional investment opportunity.
Status:
Active
Type:
Commercial
Units:
6
Zoning:
LB
Frontage:
Municipal Street
Heating:
Steam
Cooling:
Window Unit
Acreage:
0.14
Est. Taxes:
$9,036
Assessment
$188,410
Utilities
Electric,Gas,Telephone,Cable
Lot Description:
Level Lot,Sloping Lot
Days on Market:
8
MLS #:
24026473
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Mustafa Muaremi, Regency Real Estate, LLC Email: mustafa@regencyhomesct.com