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Andrew Davis
SOLD
$1,475,000
Date 04/10/2024

7 Grove Street
Norwalk, CT 06854

Multi-Family
Residential
12
Beds
5
Baths
3,850
Sq. Ft.
0.13
Acre Lot
Courtesy: James Kitt - Compass Connecticut, LLC
Home> Connecticut> Norwalk> 06854
HIGHEST & BEST BY 12PM NOON SUNDAY FEB.25TH! Location, 7.38% cap rate, easily managed and RARE five unit multifamily within walking distance to downtown SONO make this an investors dream. 7 Grove features two separate buildings on one parcel comprising a total of 12 bedrooms and 5 bathrooms on track to bring in a gross income of $144K+, per year. The front building features three 2 bedroom/1 bath units while the rear building has two 3 bedroom/1 bath units; 100% leased. Units 1 & 3 are currently rented below market value. 7 Grove boasts major recent improvements: In 2016 all units were updated with modern amenities including new cabinets, countertops, appliances, flooring and central heating/cooling! In 2020, both buildings received updated roofs and gutters. In 2021, both buildings had chimneys completely rebuilt. In 2022, new vinyl siding was added to the front building along with a replaced front porch and back staircase.. In 2023, steel fire doors were replaced throughout to insure compliance with local code. All units have separate meters (gas & electric w/ owners meter), hot water and cooling/heating.The front building has a walkout basement with laundry hookups to make adding a coin operated common washer/dryer space to this property a breeze. HVAC and water heaters replaced in 2015/16. The heavy lifting is done at 7 Grove so you can hit the ground running with this rare 5 unit investment property. Sellers require flexible closing timeline.
170623992
Multi-Family, Other
12
Fairfield
5 Full
1925
0.13 Acres
Public
Vinyl siding
Public Sewer
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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Courtesy: James Kitt - Compass Connecticut, LLC
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