252-254 Liberty St & 260 Liberty St
Lucrative 14 Investment Opportunity
Marketing description
Lucrative investment opportunity in the high demand neighborhood of Meriden, CT. Fully renovated, two-building package contains 14 units, including 6 studios, 6 one-bedroom, and 2 brand new, three-bedroom units! Units are occupied with strong current tenants, some below market rents. Current owner has invested nearly $500,000 capital improvements over the past two years. The unit interiors, buildings exteriors, parking lot and major systems (HVAC, electrical, plumbing) are recently upgraded. No deferred maintenance. Solid local management (costs included on the P&L). Investors will appreciate the strong rental history, providing a reliable income stream. Ample off-street parking in newly paved lot is available for tenants, adding convenience and value to the property. Potential for additional income by adding a laundry room in the basement area that is roughed-in and has a separate exterior entrance.
252-254 Liberty St was built 1885. 260 Liberty St was built 1920.
Investment highlights
252-254 Liberty & 260 Liberty St is a 100% occupied, 2 building package deal in Meriden that is currently grossing over $200,000 per year.
Potential added value by adding a laundry room in the basement, which is already roughed in.
Also, some solid tenants with below market rents are currently month-to month and eligible for renewal/increase.
260 Liberty St is a complete remodel gut job 2 family home. 252-254 Liberty St is a 12 unit with newer heating and hot water systems. 10 out of 12 units have been renovated within the past couple years. 252-254 Liberty has a newer roof, newer windows, and the exterior was repainted 2024.
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