623 Bank St - Apartments FOR SALE


New London, CT 06320 | 
$540,000 USD
203-486-9038
623 Bank St, New London, CT for Sale
$540,000 USD
Apartments - FOR SALE
1/6
null | 6.84% Cap Rate

623 Bank St
New London, CT 06320


HIGHLIGHTS

  • Area Amenties & Demand Drivers
  • Nearby Higher Education
  • Area Development Projects
  • Value-Add Potential
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the mixed-use investment property located at 623-625 Bank Street in New London, CT (the “Property”). The multi-story building contains one (1) Commercial unit and three (3) 2-Bedroom/1-Bathroom units with 4,472 square feet of gross living area in 4,688 square feet of gross area. The Property is situated upon a 0.12-acre parcel and features one (1) off-street parking space. 623-625 Bank Street is well-positioned in New London, offering convenient access to the city’s central business district, neighborhood retail corridors, and surrounding residential neighborhoods. The Property benefits from strong connectivity to major regional routes, including Interstate 95, U.S. Route 1, and Route 32, providing efficient access throughout southeastern Connecticut and into Rhode Island.

FOR SALE DETAILS

PRICE

$540,000 USD

PRICE/SF

$129 USD /SF

# OF UNITS

4

PRICE/UNIT

$135,000

CAP RATE

6.84%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

623-625 Bank St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,426 SF

ZONING

C-1

APN/PARCEL ID

NLON-000026-000136-000022

ASK ABOUT THIS PROPERTY

Joseph McElweeHorvath & TremblayMore Info
203-486-9038

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

Joseph McElweeHorvath & TremblayMore Info
203-486-9038

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