282 Central Ave
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282 Central Ave
11 Unit Block of Flats £783,300 (£71,209/Unit) 10.18% Net Initial Yield Norwich, CT 06360
Executive Summary
Fully Renovated 11-Unit Multi-Family Investment Property with value add | Strong Tenant Base
This renovated 11-unit multi-family building presents an outstanding investment opportunity. Renovations were completed between 2022 and 2023, ensuring low maintenance for years to come. Each of the 11 apartments is a 1-bedroom, 1-bathroom unit, offering comfortable, living spaces.
Property Highlights:
- Comprehensive renovations completed in 2022-2023
- 11 units, each featuring 1 bedroom and 1 bathroom
- 10 on-site parking spaces for tenants
- 8 out of 11 units are occupied by Section 8 tenants, providing steady rental income
- Separate Utilities. Owner responsible for water, sewer, hot water electricity, common area electricity, and trash removal
Value-Add Opportunity: you have the ability to bring the current rents to market rate increasing the gross rent from $13,800 to $16,000 monthly.
With 8 Section 8 tenants in place, this property offers consistent cash flow and long-term tenant stability. The building’s modern updates and tenant-paid utilities make it an attractive investment for those seeking minimal upkeep and maximum return.
Don’t miss this chance to acquire a turnkey, income-producing asset in a strong rental market.
This renovated 11-unit multi-family building presents an outstanding investment opportunity. Renovations were completed between 2022 and 2023, ensuring low maintenance for years to come. Each of the 11 apartments is a 1-bedroom, 1-bathroom unit, offering comfortable, living spaces.
Property Highlights:
- Comprehensive renovations completed in 2022-2023
- 11 units, each featuring 1 bedroom and 1 bathroom
- 10 on-site parking spaces for tenants
- 8 out of 11 units are occupied by Section 8 tenants, providing steady rental income
- Separate Utilities. Owner responsible for water, sewer, hot water electricity, common area electricity, and trash removal
Value-Add Opportunity: you have the ability to bring the current rents to market rate increasing the gross rent from $13,800 to $16,000 monthly.
With 8 Section 8 tenants in place, this property offers consistent cash flow and long-term tenant stability. The building’s modern updates and tenant-paid utilities make it an attractive investment for those seeking minimal upkeep and maximum return.
Don’t miss this chance to acquire a turnkey, income-producing asset in a strong rental market.
Property Facts
| Price | £783,300 | Apartment Style | Low Rise |
| Price Per Unit | £71,209 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Net Initial Yield | 10.18% | Building Size | 6,003 SF |
| Gross Rent Multiplier | 6.74 | Average Occupancy | 100% |
| No. Units | 11 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1880/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Price | £783,300 |
| Price Per Unit | £71,209 |
| Sale Type | Investment |
| Net Initial Yield | 10.18% |
| Gross Rent Multiplier | 6.74 |
| No. Units | 11 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 6,003 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1880/2022 |
| Parking Ratio | 1.67/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Oven
- Range
- Yard
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 11 | £979.12 | 550 |
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PROPERTY TAXES
| Parcel Number | NORW-000086-000002-000024 | Improvements Assessment | £178,122 |
| Land Assessment | £120,628 | Total Assessment | £298,751 |
PROPERTY TAXES
Parcel Number
NORW-000086-000002-000024
Land Assessment
£120,628
Improvements Assessment
£178,122
Total Assessment
£298,751
zoning
| Zoning Code | MF (Apartment Multi Family.) |
| MF (Apartment Multi Family.) |
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Presented by
Mendel Deitsch
282 Central Ave
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