Price Reduced 34.00%

$495,000 ($74.93 per sqft)

Under Contract

Est. Mortgage $2,342/mo *

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Price History

$750,000
8/8/2024

$495,000
8/18/2024

92-98 Boswell Avenue, Norwich, (Franklin Square), CT, 06360

92-98 Boswell Avenue, Norwich, (Franklin Square), CT, 06360
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36 rooms

9 beds

9 Full baths

1890

Units on different Floors

6,606 sqft

ADD VALUE opportunity with a $1,050,000 ARV. Come see this 9 unit property this Wednesday, 8/21, from 11am to noon, where full access to the entire property will be provided. This is a legal 9 unit building with off street parking that is currently unoccupied. 5 of the 9 units require a complete rehab and the remaining 4 are in fair to good condition. There is a full height, walk-up attic providing additional opportunity to drive value north of $1.2 million. This opportunity leaves an investor well positioned to maximize property value and cash flow as quickly as possible, since the property will convey free of all tenants. The seller is motivated, so be sure to stop by this Wednesday and bring all offers. Wednesday (8/21) from 11am to noon. Norwich is a city benefiting from an increasing population, a 10% YOY rental growth, and a 3% vacancy rate in the multifamily sector. An area seeing a significant amount of development due to its close proximity to Foxwoods and Mohegan casinos. One of CT's largest employers, Electric Boat, in nearby Groton, Ct just hired over 5,000 new employees as part of a $1.3 billion contract modification recently secured with the US Navy to manufacture their fleet of next generation submarines.

Status:

Under Contract

Town:

Norwich

Type:

Multi-family

Units:

9

Zoning:

MF

Garage:

2-car Detached Garage

Heating:

Radiant

Cooling:

None

Basement:

Full

Acreage:

0.51

Est. Taxes:

$8,056

Assessment

$210,900

Lot Description:

Level Lot

Elementary School:

Per Board of Ed

High School:

Per Board of Ed

Days on Market:

18

MLS #:

24038693

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Anthony Velez, Realty Exclusive LLC Email: anthony.velez.vanguard@gmail.com