28 Portland Street
Exceptional Multi-Family Investment Opportunity in CT!
Marketing description
Located in desirable Middletown, this unique property package offers two two-family homes—for a total of four income-producing units—along with a versatile 2,898 sq ft workshop and two additional vacant land parcels.
Each residential building offers approximately 1,380 sq ft with new roofs, new windows, upgraded electrical, and modernized plumbing, providing peace of mind for years to come. All properties are connected to natural gas, adding efficiency and convenience. One unit has been fully renovated, supplies to renovate the other units are located in the workshop.
The standout feature is the expansive heated workshop with electricity and plumbing already in place, opening the door to endless possibilities—ideal for contractors, hobbyists, storage, or potential additional income use.
Set on a combined .35-acre lot, plus two separate parcels (.08 and .02 acres), this offering provides flexibility rarely found:
- Expand your portfolio with strong rental income potential
- Build on the additional lot (buyer to do due diligence)
- Or enjoy extra outdoor space as a private side yard
Whether you're an investor looking for solid cash flow or an owner-occupant seeking supplemental income, this property delivers versatility, updates, and long-term value in one compelling package.
Investment highlights
High-Yield Multi-Asset Investment Opportunity | Middletown, CT
Positioned in Middletown, this rare, income-producing portfolio features two 2-family homes (4 total units), a 2,898 sq ft fully equipped workshop, and two additional land parcels—delivering multiple revenue streams and value-add potential.
Each residential building offers approximately 1,380 sq ft and has been capital-improved with new roofs, new windows, updated electrical, and modernized plumbing, significantly reducing near-term CapEx. All structures are connected to natural gas, enhancing operational efficiency and tenant appeal.
Income & Upside Highlights:
- 4-unit rental configuration with strong, consistent income potential
- Additional monetization opportunity via the heated workshop (ideal for contractor lease, storage income, or owner use)
- Two separate vacant parcels (.08 & .02 acres) create development or resale upside (buyer to perform due diligence)
- Ability to increase rents to market for improved NOI and long-term appreciation
Situated on a combined .35-acre footprint, this asset offers flexibility to scale returns—whether through rent optimization, auxiliary income from the workshop, or future development of excess land.
Ideal for investors seeking:
- Cash flow + appreciation potential
- Low immediate maintenance risk due to recent upgrades
- Multiple exit strategies (hold, expand, or subdivide/sell parcels)
Income-generating opportunity with built-in upside in a strong rental market.
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