31
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$525,000
Est. payment /mo
5 Beds
4 Baths
2,478 SqFt
New
837 Bank Street New London, CT 06320
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Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,478 sqft
Price per Sqft $211
MLS Listing ID 24191023
Style 4updown - Unit(s) per Floor
Bedrooms 5
Full Baths 4
Year Built 1893
Annual Tax Amount $3,800
Lot Size 4,791 Sqft
Property Sub-Type 4 Family
Property Description
Investors, take notice. 837 Bank Street in New London offers the potential for an estimated 12-15% cap rate based on prior rental income, making it a property well worth considering for your next buy-and-hold investment. Three of the four units are renovated one-bedroom, one-bath apartments, while the standout fourth unit is a spacious townhouse-style residence featuring four bedrooms with additional living space in the finished attic. Each unit is separately metered, and one of the biggest advantages is the property's relatively low taxes for the area, helping maximize rental income and strengthen the overall return on investment. Conveniently located on Bank Street between New London and Waterford and along the bus line, this multifamily offers a desirable unit mix, strong income potential, and an excellent opportunity to add a quality asset to your portfolio. Come take a look and see why this property deserves your attention.
Location
State CT
County New London
Zoning C-1
Rooms
Basement Full
Interior
Heating Hot Air
Cooling Window Unit
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description City Views
Foundation Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Stephano Stravoravdis • Real Broker CT, LLC
Nearby Locations
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