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$ 510,000
$ 525,000 2.9%
Est. payment /mo
Sold on 05/01/2025
39 Fairmount Street Norwich, CT 06360
6 Beds
4 Baths
3,854 SqFt
UPDATED:
Key Details
Sold Price $510,000
Property Type Multi-Family
Sub Type 4 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,854 sqft
Price per Sqft $132
MLS Listing ID 24071635
Sold Date 05/01/25
Style Units on different Floors
Bedrooms 6
Full Baths 4
Year Built 1886
Annual Tax Amount $5,730
Lot Size 8,712 Sqft
Property Sub-Type 4 Family
Property Description
The VC Property Group is proud to present this High Yield Investment Opportunity consisting of 2 properties in Norwich, Ct. The portfolio is comprised of 9 units, 6 two bedrooms, 2 one bedrooms, and a studio. The offering is made up of a 4-family and 5 unit property. All utilities are separate and tenant paid, with a mix of on and off street parking. This is a value add opportunity with an estimated $1,000,000 ARV, yielding a 30% ROI once fully stabilized. Based on an assumed repair budget of $225k, properties will yield an estimated $175k net profit at full ask in a flip scenario assuming a 6 month hold, or an 85% Effective LTV in a buy and hold scenario. VC Property Group's capital markets team is able to broker bridge/rehab financing up to 90% LTV + 100% Rehab for qualified, experienced investors. Disclaimer: All financials and estimates detailed above have been derived by VC Property Group using industry standard underwriting and property valuation practices, but all buyers must conduct their own due diligence and independently verify all financial details themselves prior to purchase. Viewing this Saturday, Feb 1, from 1 to 2pm. We will begin tour at 39 Fairmount St, Norwich, Ct
Location
State CT
County New London
Zoning MF
Rooms
Basement Full
Interior
Heating Baseboard
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Anthony Velez • VC Property Group, LLC
Bought with Angela Bergstrom • Berkshire Hathaway NE Prop.
Bought with Angela Bergstrom • Berkshire Hathaway NE Prop.