Portland Street, Middletown, CT 06457
Multifamily | 5 Units
Marketing description
Positioned in Middletown, this rare, income-producing portfolio features two 2-family homes (4 total units), a 2,898 sq ft 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.
Situated on a combined .25-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, Multiple exit strategies (hold, expand, or subdivide/sell parcels). Income-generating opportunity with built-in upside in a strong rental market.
Investment 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
- Cash flow + appreciation potential
- Multiple exit strategies (hold, expand, or subdivide/sell parcels)
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