Well Maintained 7 Unit

202 Broadway, Norwich, CT

7 Units • $113,571/unit

Est. $5,559 /mo

Get Financing
List Price $795,000
NOI
$81,961
DSCR
1.72
Cap
10%
ROI
17%
Listing Details
$795,000
Well Maintained 7 Unit

202 Broadway, Norwich, CT

7 Units . $113,571/unit

$795,000

Listed By
Anthony Velez

VC Property Group

REB.0795536

Est. $5,559 /mo

Get Financing
Property Snapshot
78% Proforma
Property Type
Multifamily
Building(s)
1
Sqft
3861 sqft
Parcel(s)
1
Lot Size
4000 acres
Year Built
1843
Highlights
Property Description

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong tenant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.

Property Features
Utilities & Systems
Heating
Propane
Hot Water
Propane
Water
Public
Sewer
Public
Trash
Owner Paid
Utility Split
T/O Paid
Disclaimers
Buyer Due Diligence

Listing last updated on September 27, 2026. Buyers should independently verify all property and financial information. Financial metrics are calculated using industry best practices but rely on listing broker inputs and assumptions. Actual results may vary.

Residential Income
Current vs Proforma
2 Bed, 1 Bath
$1,446
1 Bed, 1 Bath
$1,135
1 Bed, 1 Bath
$1,085
1 Bed, 1 Bath
$1,415
1 Bed, 1 Bath
$1,240
1 Bed, 1 Bath
$1,230
1 Bed, 1 Bath
$1,195
Monthly
$8,746
$11,150
Annual
$104,952
$133,800
Operating Expenses
Annualized
Property Taxes
$10,700
Insurance
$8,400
HOA
$0
Electric
$0
Heating
$4,000
Water / Sewer
$4,200
Trash
$3,387
CAM
$0
Payroll & Benefits
$0
Administrative
$0
Marketing / Leasing
$0
Vacancy - Residential
$5,248
$6,690
Vacancy - Commercial
$0
$0
Maintenance
$4,985
$6,356
Management
$4,985
$6,356
Others
$0
Resi Reserves ($/unit)
$1,750
Comm Reserves ($/sqft)
$0
Total Expenses
$47,655
$51,839
Loan Terms
Scenario Builder
Sale Price
$795,000
Loan Term
30 Years years
Rate
7%%
LTV
75%%
P&I
$3,967
$3,967
Annualized
$47,602
$47,602
Net Cash Flow
$9,695
$34,359
Request loan quote from VC Property Group.

Anthony Velez

VC Property Group

REB.0795536

Anthony Velez
Anthony Velez
VC Property Group

Anthony Velez


VC Property Group

REB.0795536