Eco Friendly
Address
23 Hayward Avenue, Colchester, CT
Price
$ 1,350,000
Property Attributes
  • MLS#170545645
  • TypeMulti-Family
  • CountyNEW LONDON
  • CityColchester
  • Zip06415
  • StyleUnits on different Floors
  • Price$ 1,350,000
  • Bedrooms12
  • Full Bathrooms9
  • Half Bathrooms0
  • Sqr Footage6346
  • Lot Size12,632 SqFt
Data Source:
Smart MLS
Property Description

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!

Elementary School Middle School High School
Per Board Of Ed Elementary School Per Board Of Ed Middle School Per Board Of Ed High School
Price History
1/19/2023 Listed $1,460,000
5/1/2023 8% - $1,350,000

General Features

Exterior Features Gutters,Lighting,Porch
Zoning R-30
Full Baths 9
Year Built 1780
Neighborhood N/A
Style Units on different Floors
Heater Type Baseboard
County New London
Property SubType 5 Family+
Tax Year July 2023-June 2024
Net Operating Income 102229
Property Type Multi-Family For Sale
Status Active
Acres 0.29
Directions Route 85 to Hayward Ave. GPS Friendly
High School Per Board of Ed
City Colchester
Street Name Hayward
Elementary School Per Board of Ed
Sq Ft Total 6346
DOM 404
Year Built Source Public Records

Interior Features

Cooling System Window Unit
Basement Description Full,Unfinished
Hot Water Electric
Total Bathrooms 9
Total Bedrooms 12
Total Number of Units 9

Exterior Features

Water Source Public Water Connected
Garage Parking Driveway,On Street Parking,Off Street Parking
Lot Description Level Lot,Lightly Wooded
Color White
WaterfrontDescription Not Applicable

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 06415

Price
AVG $720K
$1.35M
Visits
AVG 180
466
Data Provided by Inside Real Estate®
Year Built
AVG 1854
1780
Walkscore
AVG 59
60
Data Provided by Walkscore® not using MLS data

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