837 Bank St, New London, CT 06320
- $525,000
- 5
- BD
- 4
- BA
- 2,478
- SqFt
- List Price
- $525,000
- Status
- ACTIVE
- MLS#
- 24191023
- Year Built
- 1893
- Bedrooms
- 5
- Bathrooms
- 4
- Acres
- 0.11
- Living Area
- 2,478
- Neighborhood
- N/A
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.
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Additional Information
- Taxes
- $3,786
- Lot Size
- 4,791
- Heating
- Hot Air
- Cooling System Type
- Window/Wall
- Water Source
- Public
- Basement
- Full
- Elementary School
- Per Board of Ed
- High School
- Per Board of Ed
Mortgage Calculator
Listing courtesy of Stephano Stravoravdis from Real Broker CT, LLC. (860) 801-2087 (860) 884-9511
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