|
$49,506 NOI |
$22,464 NCF |
1.83 DSCR |
11% Cap |
20% ROI |
Fully Stabilized Asset Near Downtown
102 Boswell Avenue, Norwich, CT
5 Units . $89,000/unit
$445,000
|
$49,506 NOI |
$22,464 NCF |
1.83 DSCR |
11% Cap |
20% ROI |
| % Proforma : % Proforma :
92%
|
Parking :
On Street
|
| Property Type : Type :
Multifamily
|
Heating :
Natural Gas
|
| Buildings :
1
|
Hot Water :
Natural Gas
|
| Parcel(s) :
1
|
Sewer :
Public
|
| Year Built :
1900
|
Water :
Public
|
| Occupancy : Occ. :
100%
|
Trash :
City Pick-up
|
| Sqft:
4500 sqft
|
Utility Split :
Owner Paid
|
| Lot Size :
11000 acres
|
Sprinklers :
No
|
- Fully Stabilized at Near Proforma Rents
- 20% ROI AT ENTRY !!!!!!
- $2,000 NET CASH FLOW EVERY MONTH
- 6th Unit, but would need permit + gut reno
- Unused storage space that would best be used as an additional bedroom for 1st floor apartment
Great investment opportunity to acquire a fully occupied 5 unit multifamily in one of CT's highest yield multifamily markets. Property yields a 20% ROI at entry, with a 26% ROI proforma, being offered at an 11 CAP. This will yield $2k NET Cash Flow every month AT ENTRY !! There is also a large 6th unit apartment that is no longer in use. This is BONUS space that would need to be permitted and gut renovated, but the potential is there. Usable storage for tenants for added income is another option. There is also an old space that use to be used for storage that would make for a large bedroom/living room addition to the 1st floor apartment. This property has a TON of potential and you wont find a higher yield multifamily property on the market. Seller is Motivated, but no seller financing.
