7 Broad Street, Norwich, CT

Name: 7 Broad Street, For Sale in Norwich - Zoocasa
Brand: VC Property Group, LLC
SKU: 24181447
Price: 1695000 USD

House

For Sale

Listed price in listed location currency (USD).

$1,695,000

1070

MLS® 24181447

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size -

Garage

Taxes $10,660

Days Active 0

Lot Size

Approx. Age 1820

MLS® Number 24181447

Property Address: 7 Broad Street, Norwich, CT, 06360

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

Description

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unitproperties 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 cashflow 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 $191, 268 is significantly below market, with projected stabilized income of approximately $270, 600, representing over$79, 000 in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 10.02% stabilized cap rate, 1.97xDSCR, and 16.13% stabilized ROI, creating a compelling investment profile for both private and institutional investors. Opportunities to acquire 14 units across two closely positioned assets are increasingly rare, making this a unique chance to achieve immediate scale while implementing a straightforward rent growth strategy.

MLS® Number24181447

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1820

BasementFull

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Map

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