38 Cliff St - Apartments FOR SALE


Norwich, CT 06360- Northeast New London/Norwich
$949,000 USD
857-540-1594
38 Cliff St, Norwich, CT for Sale
$949,000 USD
Apartments - FOR SALE
1/10
null | 8.22% Cap Rate


HIGHLIGHTS

  • Instant Scale, Immediate Cash Flow: 7 Units in Opportunity Zone
  • A 7-unit property of this size rarely hits the market at this price point.
  • Convenient, high-demand rental pocket with low vacancy history
  • Solid Masonry & Brick Exterior with Classic Architectural Character

OVERVIEW

38 Cliff St presents an opportunity to acquire a seven-unit multifamily asset in Norwich, Connecticut. The property combines immediate in-place income with long-term investment potential in an established residential area near Downtown Norwich, local employment centers, retail services, and regional transportation routes. Its location provides residents with convenient access to shopping, dining, public services, and the broader Southeastern Connecticut market. The three-story building features classic mansard-style architecture with a masonry and brick exterior that contributes to its historic character. The asset offers instant scale through seven income-producing units within a single structure, creating operational efficiencies compared to smaller multifamily holdings. Norwich continues to benefit from its position between New London and Hartford corridors, with access to major roadways supporting commuter and workforce connectivity. The property's Opportunity Zone location may provide additional consideration for investors evaluating long-term capital deployment strategies, subject to applicable program requirements. Combined with existing rental income, a substantial unit count, and a location within an established rental market, the property offers a multifamily investment opportunity with current cash flow and future value enhancement potential.

FOR SALE DETAILS

PRICE

$949,000 USD

PRICE/SF

$188 USD /SF

# OF UNITS

7

PRICE/UNIT

$135,571

CAP RATE

8.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Immediate Cash Flow: 7 Units

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1860

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

MF

APN/PARCEL ID

NORW-000102-000004-000054

ASK ABOUT THIS PROPERTY

Chris RandallMott & Chace Sotheby's Intl.More Info
857-540-1594

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Chris RandallMott & Chace Sotheby's Intl.More Info
857-540-1594

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