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52 Fitchville Rd, Norwich, CT 06334

$550,000
: 8
BD
: 4
BA
: 4,449
SqFt

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List Price: $550,000
Status: PENDING
MLS#: 24194664
Year Built: 1890
Bedrooms: 8
Bathrooms: 4
Acres: 0.57
Living Area: 4,449

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Property Description

Exceptional opportunity to acquire a fully renovated 4-family investment property offering premium unit quality rarely found in the market. Extensively gut renovated in 2006, the property has been meticulously maintained, with two recently renovated vacant units providing immediate lease-up potential at market rents or an ideal opportunity for an owner-occupant to offset their mortgage with rental income while moving into a recently updated apartment. The property is projected to generate $81,600 in annual gross income with an impressive 23.58% projected cash-on-cash return, making it an attractive opportunity for both investors and owner-occupants alike. All four units are in well-above-average condition, minimizing near-term capital expenditures. Additional features include off-street parking, a spacious yard, an on-site coin-operated laundry room for supplemental income, public water service with an existing on-site septic system, and strong tenant appeal. Whether you're seeking a turnkey cash-flow investment or a high-quality multifamily property with owner-occupant flexibility and long-term upside, this property delivers exceptional value.

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Additional Information

Taxes: $9,524
Lot Size: 24,829
Heating: Hot Water
Cooling System Type: None
Sewer: Septic Tank
Water Source: Public
Basement: Full
Elementary School: Per Board of Ed
High School: Per Board of Ed