506-508 Plain Hill
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506-508 Plain Hill
8 Unit Apartment Building $1,410,383 CAD ($176,298 CAD/Unit) 8.61% Cap Rate Norwich, CT 06360
Investment Highlights
- Two (2), Two Story Buildings with 8 Units
- On-Site Parking
- Convenient Location
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 506 & 508 Plain Hill Road in Norwich, Connecticut (the “Property”). The Property is improved by two (2) two-story buildings and contains eight (8), 2-Bedroom/1-Bathroom townhouse residential units with 6,400 square feet of living space in 9,600 square feet of gross area on a large 17.01-acre parcel. The well-maintained Property features new boilers and has an on-site laundry facility and abundant on-site parking for residents and visitors. The Property is located in a quiet residential area in the north end of Norwich. The Property is positioned on a large, private wooded lot and offers its residents tranquil living in a rural setting while also providing convenient access to area shopping amenities just a few miles away on W Town Street, the area’s primary commercial center positioned at the junction of CT Route 2 and Interstate 395, the area’s two highways. The location also offers numerous outdoor recreation activities with hunting, fishing, hiking, and walking trails nearby. Norwich is located in eastern Connecticut between Hartford and New London, two of the state’s largest markets. Norwich is 18-miles north of New London and 38 miles southeast of Hartford.
Property Facts
| Price | $1,410,383 CAD | Building Class | C |
| Price Per Unit | $176,298 CAD | Lot Size | 17.01 AC |
| Sale Type | Investment | Building Size | 9,600 SF |
| Cap Rate | 8.61% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1990/2020 |
| Property Subtype | Apartment |
| Price | $1,410,383 CAD |
| Price Per Unit | $176,298 CAD |
| Sale Type | Investment |
| Cap Rate | 8.61% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 17.01 AC |
| Building Size | 9,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1990/2020 |
Unit Amenities
- Cable Ready
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Carpet
- Yard
- Handrails
- Lawn
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
- Walking/Biking Trails
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zoning
| Zoning Code | R40/R8 |
| R40/R8 |
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506-508 Plain Hill
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