$1,475,000
$1,450,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
12 Beds
5 Baths
3,850 SqFt
SOLD DATE : 04/10/2024
Key Details
Sold Price $1,475,000
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Sold
Purchase Type For Sale
Square Footage 3,850 sqft
Price per Sqft $383
MLS Listing ID 170623992
Sold Date 04/10/24
Style Units on different Floors,3updown - Unit(s) per Floor
Bedrooms 12
Full Baths 5
Year Built 1925
Annual Tax Amount $15,236
Lot Size 5,662 Sqft
Property Description
HIGHEST & BEST BY 12PM NOON SUNDAY FEB.25TH! Location, 7.38% cap rate, easily managed and RARE five unit multifamily within walking distance to downtown SONO make this an investors dream. 7 Grove features two separate buildings on one parcel comprising a total of 12 bedrooms and 5 bathrooms on track to bring in a gross income of $144K+, per year. The front building features three 2 bedroom/1 bath units while the rear building has two 3 bedroom/1 bath units; 100% leased. Units 1 & 3 are currently rented below market value. 7 Grove boasts major recent improvements: In 2016 all units were updated with modern amenities including new cabinets, countertops, appliances, flooring and central heating/cooling! In 2020, both buildings received updated roofs and gutters. In 2021, both buildings had chimneys completely rebuilt. In 2022, new vinyl siding was added to the front building along with a replaced front porch and back staircase.. In 2023, steel fire doors were replaced throughout to insure compliance with local code. All units have separate meters (gas & electric w/ owners meter), hot water and cooling/heating.The front building has a walkout basement with laundry hookups to make adding a coin operated common washer/dryer space to this property a breeze. HVAC and water heaters replaced in 2015/16. The heavy lifting is done at 7 Grove so you can hit the ground running with this rare 5 unit investment property. Sellers require flexible closing timeline.
Location
State CT
County Fairfield
Zoning C
Rooms
Basement Full With Walk-Out, Unfinished, Concrete Floor, Storage
Interior
Heating Hot Air, Zoned
Cooling Central Air
Exterior
Exterior Feature Covered Deck, Deck, Gutters, Lighting
Garage Driveway, Paved, Off Street Parking
Waterfront Description Beach Rights
Roof Type Asphalt Shingle
Building
Lot Description City Views, Sloping Lot
Foundation Block, Concrete
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 Maureen Sullivan • William Raveis Real Estate
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Broker | REB.0791464