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291-293 E Main St

6 Unit Block of Flats £450,397 (£75,066/Unit) 7.30% Net Initial Yield Torrington, CT 06790

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Investment Highlights

HIGHWAY ACCESS
NEWER ROOF

NEWER MACHANICALS

Executive Summary

Attention Investors! Discover a remarkable opportunity at 291 E Main St, Torrington, CT - a turn-key Six-Unit Multi-Family building with a compelling 7.3% cap rate in a prime location. This income-generating property features two spacious 2-bedroom apartments and four wellappointed 1-bedroom units. Benefit from numerous recent upgrades, include newer high-efficiency gas boilers/water heaters, roof ripped and replaced in 2013, as well as updated windows throughout, all designed to minimize maintenance costs. Strategically located near major highways and the vibrant downtown Torrington area, this property offers residents easy access to a variety of shopping, dining, and entertainment options. The nearby Warner Theatre, Museums, Coe Memorial Park, and Burr Pond State Park provide ample recreational opportunities, enhancing tenant appeal. As an investor, you'll appreciate the potential for growth. With a conservative rental increase, this property could achieve a remarkable 9.2% Cap Rate, capitalizing on the strong Torrington rental market that has seen a steady increase over the past year and projected to grow 4.5% by early 2025.Don't miss this exceptional investment opportunity.

291 E MAIN ST PACEL MAP

291 E Main (2).xlsx - 291 E Main

Property Facts

Price	£450,397	Building Class	C
Price Per Unit	£75,066	Lot Size	0.14 AC
Sale Type	Investment	Building Size	4,431 SF
Net Initial Yield	7.30%	Number of Floors	3
No. Units	6	Year Built	1920
Property Type	Residential	Parking Ratio	0.68/1,000 SF
Property Subtype	Apartment Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£450,397
Price Per Unit	£75,066
Sale Type	Investment
Net Initial Yield	7.30%
No. Units	6
Property Type	Residential
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.14 AC
Building Size	4,431 SF
Number of Floors	3
Year Built	1920
Parking Ratio	0.68/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.