

Listed by Century 21 Allpoints Realty Southington
$1,799,000
16-20 Henry Street
Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 15,012
Units 16
Cap Rate 7.00%
Occupancy 100%
Pro-Forma Cap Rate 8.90%
Class C
Buildings 2
Stories 3
Zoning NX-2
Brick 15-unit + Single-family Steps to Trinity College!
Marketing description
Investors take note of this unique opportunity including a 15-unit brick building and an adjacent 1,620 SF single-family residence. The 1966-built apartment building has seen significant capital improvements over the last few years, including a new roof, new windows, blown-in insulation, and the addition of EV charging stations. Numerous units have been renovated with updated kitchens, bathrooms, and flooring. The boiler has been enhanced with a new holding tank and additional mechanicals for improved efficiency. The adjacent single-family home provides additional stable income with a detached 3-bay garage, updated plumbing and electrical, vinyl replacement windows, and a newer combination boiler. The finished basement includes an additional bedroom and bathroom, creating a total of 5 bedrooms and 2.5-baths. Both properties have ample off street parking for tenants and on site laundry. For added benefit, the properties have been converted to condo tax status offering owners lower taxes. Conveniently located steps to Trinity College, these 2 lots offer a compelling, cash flowing investment opportunity with great potential!
Investment highlights
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Listed by Century 21 Allpoints Realty Southington
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