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33684510
33684509

9 School Street, Mystic, CT 02141-1887

JA
CT REB.0789221
William Pitt Sotheby's International Realty
Listed by William Pitt Sotheby's International Realty
$3,700,000
3 days on market
Updated 3 days ago

9 School Street (4 & 6 School Place)

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,962
Units 6
Beds 2
NOI $162,221
Tenancy Multi
Year Built 1950
Year Renovated 2021
Buildings 3
Acreage 0.310
Zoning RH-10
Parking Spaces 12 spaces
Parking Per SqFt 2.42

Multifamily | 6 Units

Marketing description

Exceptional opportunity to acquire a thriving six-unit short-term rental portfolio in the heart of Mystic, Ct. Offered as three well-maintained buildings with six guest accommodations, this turnkey hospitality operation provides immediate income in one of New England's most desirable coastal destinations. Located within walking distance of Historic Downtown Mystic, the portfolio benefits from strong year-round demand driven by waterfront attractions, acclaimed restaurants, boutique shopping, marinas, entertainment venues, and a vibrant tourism economy. Guests enjoy convenient access to Mystic's most popular destinations, helping drive occupancy and repeat visitation. The portfolio includes six thoughtfully appointed accommodations across three separate buildings, creating multiple revenue streams and operational flexibility. The properties have been carefully maintained and are positioned for continued success under new ownership. Unlike traditional multifamily investments, this offering represents an established lodging business with immediate cash flow and future growth potential. The combination of location, scale, and guest appeal creates a rare opportunity to acquire a hospitality asset in one of Connecticut's premier tourism markets. Whether expanding an existing portfolio or entering the short-term rental industry, this unique Mystic offering delivers proven income, operational flexibility, and long-term value. Financial and operational information available.

Investment highlights

  • 6 2-bedroom, 1 bath apartments
  • 2 parking spaces per unit off-street
  • Laundry for each unit
  • Fully furnished turn-key short-term setups
  • Updated units, mechanicals, electric, roofing and solar
  • Propaned fired forced hot air and cooling
  • Walking distance to town
  • Being sold as a group but individual buildings with separate deeds

Listing Contacts

JA
CT REB.0789221
William Pitt Sotheby's International Realty
Listed by William Pitt Sotheby's International Realty

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$162,221.00
$13,518.42/mo

Valuation Metrics

0
DSCR
4.38%
Cap Rate
4.38%
ROI

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