320-322 Chesnut St - Apartments FOR SALE


New Britain, CT 06051- New Britain/Newington/Wethersfield
$779,000 USD
320-322 Chesnut St, New Britain, CT for Sale
$779,000 USD
Apartments - FOR SALE
1/10
null | 8% Cap Rate

320-322 Chesnut St
New Britain, CT 06051
New Britain/Newington/Wethersfield


HIGHLIGHTS

  • Potential to Add 7th Unit
  • Separate & Tenant Paid Utilities
  • Off Street Parking
  • Value Add Opportunity

OVERVIEW

Great investment opportunity with this expansive 5,786 SF property featuring 6 existing rental units and potential for a 7th! The current layout includes two spacious 2 bed/1 bath units, two flexible 1–2 bed/1 bath units, one 1 bed/1 bath, and one 3 bed/1 bath unit. All units have separate and tenant-paid utilities and the property is equipped with three newer hot water heaters and an active fire system. The roof is approximately 10 years old and it has ample off-street parking to enhance tenant appeal. A partially finished attic unit offers additional upside—complete with walls, floors, separate electric panel, and two egresses, it's ready for bathroom and kitchen finishes to become a legal 7th unit (or can be added to an existing unit without approvals). A detached 3-bay garage presents a value-add opportunity for extra income with some renovation. Existing income and room to grow - check it out!

FOR SALE DETAILS

PRICE

$779,000 USD

PRICE/SF

$135 USD /SF

# OF UNITS

6

PRICE/UNIT

$129,833

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1904

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

T

APN/PARCEL ID

NBRI-000008B-000000-B000067

ASK ABOUT THIS PROPERTY

Maddy CerutiCentury 21 Allpoints RealtyMore Info

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Maddy CerutiCentury 21 Allpoints RealtyMore Info

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