289 Main Ave - Apartments FOR SALE


Norwalk, CT 06851- Downtown Norwalk
$8,600,000 USD
203-692-2420
289 Main Ave, Norwalk, CT for Sale
$8,600,000 USD
Apartments - FOR SALE
1/7
null | 6.33% Cap Rate

289 Main Ave
Norwalk, CT 06851
Downtown Norwalk


HIGHLIGHTS

  • Value-Add Opportunity
  • Ideal Location
  • Outstanding and Growing Submarket
  • Transit Oriented
  • Immediate Scale
  • Attractive to Cost Conscious Renters

OVERVIEW

Northeast Private Client Group is pleased to present the exclusive opportunity to purchase The Flats At 289, located at 289 Main Avenue, Norwalk, Connecticut. The Flats At 289 is a 40-unit two-story-over-parking walk-up apartment building constructed in 1977. The property is comprised of 38 studio/junior-one-bedroom apartments and two (2) one-bedroom apartments across 20,576 square feet of gross living area. The property features covered parking as well as on-site laundry facilities. Heat and hot water are provided by individual electric systems paid for by the tenant. Cold water and sewer are centrally metered and are landlord provided.

FOR SALE DETAILS

PRICE

$8,600,000 USD

PRICE/SF

$418 USD /SF

# OF UNITS

40

PRICE/UNIT

$215,000

CAP RATE

6.33%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

289 Main Avenue

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

B2

APN/PARCEL ID

NORW-000005-000047-000012

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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