Listed by Scalzo Commercial & New Development
$2,100,000
143 West St
Details
Property Type Multifamily, Land
Sub Type Apartment Building, Commercial
Acreage 3.750
Zoning Commercial & Residential
Multifamily
Marketing description
Attention: Developers, Investors & Entrepreneurs!! Plans, Approvals and Land for fully approved 109 unit four story residential complex on beautiful Lake Lillinonah. This project consists of 58 one-bedroom and 51 two-bedroom units, for which market rental rates of $1,850 for 2 BDRM and $1,450 for 1 BDRM have been used to develop proforma. By adding ancillary income for parking, etc., the total income is projected to be approximately $2.2 million annually. Total cost of the project including land is estimated to be in the low $20 million range. Town encourages submission of tax abatement, which can now be up to 10 years in CT.
Investment highlights
- Waterfront on Lake Lillinonah
- Close to town green of New Milford, CT
- Adjacent to existing marina and office flex building
- No. Lots: 1
Listing Contacts
Listed by Scalzo Commercial & New Development
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