23 Hayward Avenue
Colchester, CT, 06415 $ 1,350,000
Bedrooms12 Baths9.0 Sq 6,346 Monthly Estimate*
$ 9,430
for $1,350,000 with 12 bedrooms and 9 full baths. This 6,346 square foot home was built in 1780 on a lot size of 0.29.
Rarely available 9 unit multifamily on Colchester town green! Currently offered at a 7% Cap Rate with a 7.6% ROI and tremendous upside! The main building has 7 units and there is a 2 unit cottage in the rear of the property. This investment opportunity boasts a historically low vacancy rate due to increasing demand for apartment rentals in local market. Current ownership has gut-renovated each unit over the past decade, while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola on top of the 3rd floor penthouse apartment. Renovations include new: electrical, plumbing, insulation, roof, sewer line, energy efficient double pane windows, flooring, drywall, fire rated steel doors, wired fire alarm system, and separately metered electric. All apartments feature separate and tenant paid electric electric baseboard heat. The unit mix is (1) efficiency, (3) 1 beds, (2) 2 beds, and a large 2 bedroom penthouse apartment, approximately 1,800 SF. There are (2) 1 bedroom units in the cottage in the rear of the property. Prime downtown location next to the Town Green where community events are held regularly. Amenities can be found all around and include: restaurants, retail shopping, grocery stores, and service businesses. Very easy and convenient access to Route 2 and Route 85. Only 25 minutes to Hartford, Norwich and New London. One of a kind property, call today to schedule a private tour!
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Multi-Family ActiveUnits on different Floors
FeaturesGeneralExterior Features Gutters Lighting Porch
Zoning R-30
Full Baths 9
Half Baths 0
Year Built 1780
Neighborhood N/A
Style Units on different Floors
Heater Type Baseboard
County New London
Property SubType 5 Family+
Tax Year July 2023-June 2024
Net Operating Income 102229
Property Type Multi-Family For Sale
Status Active
Acres 0.29
Directions Route 85 to Hayward Ave. GPS Friendly
High School Per Board of Ed
City Colchester
Street Name Hayward
Elementary School Per Board of Ed
Sq Ft Total 6346
DOM 461
Video Tour Y/N 0
Year Built Source Public Records
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InteriorCooling System Window Unit
Basement Description Full Unfinished
Total Rooms 0
Hot Water Electric
Total Bathrooms 9
Total Bedrooms 12
Total Number of Units 9
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ExteriorWater Source Public Water Connected
Garage Parking Driveway On Street Parking Off Street Parking
Lot Description Level Lot Lightly Wooded
Pool? 0
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* Excluded FeaturesList Bytyler.m.egner@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $9,430
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Colchester, CT
Average List Price $849,500
Percent of Sale Price 37%
About Colchester, CT 16,489 Population
13% Since 2002
$ 96,373 Median Income
43.31 Median Age
35% Households with Children
Trends Information provided by ATTOM Data Solutions.
896384 Elementary School
895652 Middle School
Per Board Of Ed High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/1/2023 | $1,350,000 | -7.53% | Price Down |
1/19/2023 | $1,460,000 | | Listed Price |