202 Broadway, Norwich, CT 06360
202 Broadway, Norwich, CT 06360
202 Broadway, Norwich, CT 06360
202 Broadway, Norwich, CT 06360
202 Broadway, Norwich, CT 06360
202 Broadway, Norwich, CT 06360
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Dominick DiFilippo

Dominick DiFilippo

+1(914) 450-1185
$ 1,695,000
Est. payment | /mo

16 Beds

3,861 SqFt

Save
$ 1,695,000
Est. payment | /mo
Save

16 Beds

3,861 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 3,861 sqft

Price per Sqft $439

MLS Listing ID 24194779

Style Units on different Floors,Units are Side-by-Side

Bedrooms 16

Year Built 1843

Annual Tax Amount $9,029

Lot Size 0.760 Acres

Property Sub-Type 5 Family+

Property Description

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong tenant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.

Location

State CT

County New London

Zoning MF

Rooms

Basement Full

Interior

Heating Steam

Cooling None

Fireplaces Number 2

Exterior

Parking Features Off Street Parking

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Foundation Brick

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

High Schools Per Board Of Ed

Listed by Anthony Velez • VC Property Group, LLC

Nearby Locations

Dominick DiFilippo

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(914) 450-1185

hello@empireteam.com

625 US-6, Mahopac, NY 10541-4794, USA

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202 Broadway