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Jay Contessa

jcontessa@wpsir.com +1(203) 461-3880

$ 2,100,000

Est. payment | -/mo

11 Beds

12 Baths

8,500 SqFt

Save

$ 2,100,000

Est. payment | -/mo

Save

11 Beds

12 Baths

8,500 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 8,500 sqft

Price per Sqft $247

MLS Listing ID 24170538

Style Units on different Floors,Units are Side-by-Side

Bedrooms 11

Full Baths 10

Half Baths 2

Year Built 1850

Annual Tax Amount $10,593

Lot Size 3,049 Sqft

Property Sub-Type 5 Family+

Property Description

A mixed-use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley. The offering includes: 59 Maple Street (Chester): 7-unit multifamily asset with an additional ~1,500 SF commercial warehouse on 2.5+ acres. 163 Main Street (Deep River): 5-unit mixed-use property positioned at the gateway to the downtown retail corridor. The portfolio is fully occupied and generates approximately $210,000+ in current gross income, with upside to over $280,000 stabilized, driven by residential and commercial rent growth. At stabilization, the portfolio delivers approximately $175,748 NOI and a 8.37% cap rate, supported by a strong 1.58x DSCR. The possibility to develop the 3rd floor of 163 Main Street into additional units can drive returns even higher! This is a rare opportunity to acquire scale across two supply-constrained markets, combining in-place cash flow with clear mark-to-market upside across both residential and commercial components.

Location

State CT

County Middlesex

Zoning VCD

Rooms

Basement Full

Interior

Heating Hot Air

Cooling None

Exterior

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description Corner Lot

Foundation Masonry

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Deep River

High Schools Per Board Of Ed

Listed by Connor Wenchell • VC Property Group, LLC

Nearby Locations

GET MORE INFORMATION

Jay Contessa

REALTOR® | Lic# RES.0816734

jcontessa@wpsir.com

+1(203) 461-3880

470 Main Street, Ridgefield, CT, 06877

163 Main Street Deep River, CT 06417

Jay Contessa

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

163 Main Street