410-421 Howe Ave 9 Unit Block of Flats £2,562,852 (£284,761/Unit) 7.50% Net Initial Yield Shelton, CT 06484
INVESTMENT HIGHLIGHTS
- COMPLETELY RENOVATED FROM TOP TO BOTTOM, INSIDE AND OUTSIDE
- MIXED-USE, 9 RESIDENTIAL APARTMENTS, 4 COMMERCIAL RETAIL UNITS
- CLOSE TO RTE 8, RTE 34 AND ROUTE 15/MERRITT PARKWAY
- 100% OCCUPIED - 7.5% CAP RATE AT CURRENT LOW RENTS
- 4-WAY SIGNALIZED LIGHT CORNER LOCATION
- DOWNTOWN SHELTON SIDEWALK LOCATION
EXECUTIVE SUMMARY
Fully occupied mixed use commercial and residential building located in Fairfield County, Shelton, CT. The property is located on a 4-way signalized street light intersection of Howe and Center streets. The building has been completely renovated with all new 9 residential apartments and 4 commercial units. Interior and exterior renovated. Laundry on premises that provides additional income. Low Taxes. Great commuter location. Excellent Investment Opportunity for someone that wants a turn-key renovated building with great income. BELOW MARKET RENTS!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£220,616
|
£14.49
|
| Other Income |
£1,980
|
£0.13
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£222,597
|
£14.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£41,647
|
£2.74
|
| Net Operating Income |
£180,949
|
£11.89
|
PROPERTY FACTS
1 of 1
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | SHEL-000129D-000000-000047 | Improvements Assessment | £705,832 |
| Land Assessment | £34,666 | Total Assessment | £740,498 |
