119 Water St - Apartments FOR SALE


Stonington, CT 06378- Southeast New London
$6,950,000 USD
860-449-2007
119 Water St, Stonington, CT for Sale
$6,950,000 USD
Apartments - FOR SALE
1/64
null | 5.07% Cap Rate

119 Water St
Stonington, CT 06378
Southeast New London


HIGHLIGHTS

  • Highly stabilized market, steady, long term income investment property with minimal risk. 4 Commercial 7 Residential units in the heart of Stonington.
  • Commercial and Residential Units in High Demand Market
  • Excellent rental history with upward income potential in all units and expansion into attic with multi million dollar tri-state views.
  • Low maintenance built to lot-line plot with small center courtyard and driveway providing off street parking for two cars plus a one car garage.
  • Across the street from swim dock and park, village parking lot, businesses and restaurants
  • Walk to bank, beach, docks, social clubs, restaurants, shops, library, churches, parks and historic sites.

OVERVIEW

All 11 units are renovated and occupied. Penthouse unit possible with dormers providing unobstructed tri-state views over Long Island Sound. Future expansion is value added. Spectacular historic property with great clientele. Location is exquisite. Serviced by municipal water, sewer, and trash pick up. Ocean House has a rich history serving the Borough since 1840. Great live in building for owner occupied options. Each unit is unique with kitchen and has a washer dryer. Exterior painting and finishing work in progress and brochure to be uploaded. Visit our website oceanhousect.com for more info.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$605 USD /SF

# OF UNITS

11

PRICE/UNIT

$631,818

CAP RATE

5.07%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1840

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

PC

APN/PARCEL ID

STON-000101-000018-000005

ASK ABOUT THIS PROPERTY

Lori Hopkins-CavanaghShore Views Real EstateMore Info
860-449-2007

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Lori Hopkins-CavanaghShore Views Real EstateMore Info
860-449-2007

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.