80-82 Maple Ave - Apartments FOR SALE


New London, CT 06320
$1,700,000 USD
860-966-9217
80-82 Maple Ave, New London, CT for Sale
$1,700,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

80-82 Maple Ave
New London, CT 06320


OVERVIEW

Excellent value-add opportunity at 80-82 Maple Avenue, New London. This 12-unit apartment building is already well into a substantial renovation program. Eight units are renovated and/or in good condition, one unit is currently being renovated, and three units are gutted or under construction, providing an investor with clear upside through completion of the remaining renovations and further stabilization of the property. Built in 1925, the property offers approximately 8,732 SF of building area / 10,555 SF gross area on approximately 0.34 acres (14,810 SF). Features include two stories, a 2,877 SF basement, gas-fired hot-water heat, asphalt-shingle mansard roof, shingle exterior and open porch. Public records identify the property as a 12-unit apartment building. Excellent New London location near the Thames River waterfront, downtown New London, Waterfront Park, Cross Sound Ferry and the city's intermodal transportation center, providing access to ferry, rail and bus transportation. New London's waterfront and downtown offer restaurants, entertainment, arts, recreation and waterfront activities, while nearby conveniences include Lawrence + Memorial Hospital, shopping, grocery stores and major roadways. The property also has a reported Walk Score of 92. Ideal for investors seeking a partially renovated multifamily asset with significant improvements already completed and additional value-add potential through completion of the remaining units.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$195 USD /SF

# OF UNITS

12

PRICE/UNIT

$141,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,701 SF

ZONING

R-2

APN/PARCEL ID

NLON-000022-000070-000005

ASK ABOUT THIS PROPERTY

Tyler DeVecchisCentury 21 AllPoints RealtyMore Info
860-966-9217

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Tyler DeVecchisCentury 21 AllPoints RealtyMore Info
860-966-9217

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