113 S Water St

National Multifamily is pleased to present a 6-unit multifamily property and an adjacent 0.10-acre developable lot located in Greenwich, CT. The properties can be purchased together or separately. Over the past five years, all six apartments and the common areas were fully renovated, the HVAC was upgraded, and the owner completed exterior facade work.
Located in the Byram neighborhood and across the street from the Byram River, the property consists of two lots that combine for a 0.20-acre site. The two lots both go by the address 113 S. Water Street. The Current & Potential Cap Rate, the Price/SF, and the Price/Unit shown reflect just the apartment building (see Lot #1 below) and is calculated using it’s associated price. The Price/Acre provided is calculated using just the developable lot’s acreage (0.10 acres) and asking price of $250,000.
Lot #1: Building (Unique ID: 04-1654/S):
Asking Price: $1,815,000.00
The building on the right-hand side is comprised of 6 units (4-two bedrooms and 2-studios) in one 3 story, brick and stucco walk-up totaling 5,985 rentable square feet and built in 1919. The landlord pays for the heat and hot water through a central gas system. The building has a large mechanical room on the 1st floor that holds the mechanicals themselves, individual washer and dryers for each unit, and four large storage units. The apartments were fully updated over the past five years. Also on this lot is a garage in the rear of the property that is currently rented to one of the tenants.
Lot #2: Developable Lot (Unique ID: 04-1655/S):
Asking Price: $250,000.00
The site on the left-hand side is a 0.10-acre developable lot. Currently the lot is used for surface level off-street parking and a garden for the residents. The lot is zoned R-6 and is ideally located with South Water Street frontage and river views.