202 Broadway, Norwich, CT

Name: 202 Broadway, For Sale in Norwich - Zoocasa
Brand: VC Property Group, LLC
SKU: 24181437
Price: 895000 USD

House

For Sale

Listed price in listed location currency (USD).

$895,000

870

MLS® 24181437

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 3861 sqft

Garage

Taxes $10,700

Days Active 0

Lot Size

Approx. Age 1843

Avg. Price Per Sqft $231

MLS® Number 24181437

Property Address: 202 Broadway, Norwich, CT, 06360

Average square foot calculated using Size range provided by listing agent.

Description

VC Property Group is proud to present 202 Broadway, a 7-unit multifamily asset located in one of Norwich's most desirable rental corridors-directly across from the iconic Cathedral of St. Patrick. Positioned in one of Connecticut's highest-yielding and fastest-moving rental markets, the property combines strong in-place cash flow with substantial upside through strategic lease-up. The current rent roll reflects opportunity for significant value creation, with pro forma rents driving a projected NOI of ~$88K and a 14% cash on cash return, offering investors immediate scale with clear value creation. The asset benefits from 100% occupancy, off-street parking, and a highly desired LOCATION. The units are in above-market condition, allowing for immediate rent growth without the need for significant capital improvements. This is a true Day 1 cash-flowing asset with no major CapEx required-an increasingly rare profile in today's market where most value-add opportunities require heavy renovation risk. Strategically located just 15 minutes from New London, the property is directly positioned to benefit from the ongoing economic expansion driven by Electric Boat's multi-year contract pipeline, actively bringing in thousands of new jobs to the region. This macro tailwind continues to fuel rental demand across Eastern Connecticut, particularly in supply-constrained, workforce-driven housing markets like Norwich., With strong fundamentals, minimal execution risk, and a clear lease-up story, 202 Broadway presents a rare opportunity to acquire a stabilized, high-yield asset with embedded upside in a rapidly appreciating submarket.

MLS® Number24181437

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1843

BasementFull

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Map

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