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Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Sold
Purchase Type For Sale
Square Footage 6,385 sqft
Price per Sqft $133
MLS Listing ID 24029747
Sold Date 01/09/25
Style Units on different Floors,Other
Bedrooms 15
Full Baths 9
Half Baths 1
Year Built 1875
Annual Tax Amount $11,184
Lot Size 0.530 Acres
Property Sub-Type 5 Family+
Property Description
Discover an exceptional investment opportunity with this historic eight-unit apartment building at 171 Garfield Ave, New London. Built in 1875 and renovated in 2003, this property blends timeless charm with modern amenities. Located in a prime area, it offers easy access to medical facilities, shopping, and public transportation. Each unit features modern conveniences, including baseboard heating and natural gas water heating. Managed by Blue Rock Property Group, the building is well-maintained and currently generates $9,400 monthly rent, with potential to increase to $11,500. With a low vacancy rate and strong rental market, this property is a lucrative addition to any investment portfolio
Location
State CT
County New London
Zoning R-2
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Concrete, Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
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Bought with Andrew O'Reilly • Seaport Real Estate Services