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530 Main Street

Middletown, CT 06457
  • $930,000
  • STATUS: Closed
  • ON SITE: 442 Days
  • MLS #: 170555172
Sold - 02/28/2024
$930,000
SOLD - 02/28/2024
  • 0
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,033
    SQFT
  • $84
    $/SQFT
Type:
Multi-Family
Built:
1860
County:
Area:

School Information

Elementary School:
High School:

Description

Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Brewbaker’s, Luce and Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70% new windows, hard wire smoke detectors and sprinkler system. The tenants pay electric. A capital infusion through enhancing the common areas and remodeling the units will make this asset a lifestyle community. Closed comps of $122k-$135k/unit can be attained for modern units in Middletown.

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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc. Data last updated: 2024-05-26T00:11:15.267.
www.timdentteam.com/homes/137610168
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530 Main Street Middletown, CT 06457

  • Price: $1,075,000
  • Status: Closed
  • On Site: 442 Days
  • MLS #: 170555172
0
Beds
0
Baths
0
½ Baths
0.09
Acres
11,033
SQFT
$84
$/SQFT
1860
Built
County:
Middlesex
Area:
Middletown
Elementary School:
per board of ed
High School:
per board of ed
Property Description
Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Brewbaker’s, Luce and Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70% new windows, hard wire smoke detectors and sprinkler system. The tenants pay electric. A capital infusion through enhancing the common areas and remodeling the units will make this asset a lifestyle community. Closed comps of $122k-$135k/unit can be attained for modern units in Middletown.
Exterior Features

Direct Waterfront YN No Exterior Siding Vinyl Siding Garage And Parking PavedOn Street ParkingOff Street Parking Lot Description Level Lot Nearby Amenities Health ClubLibraryPublic TransportationShopping/MallWalk to Bus Lines Parking Total Spaces 0 Roof Information Other Style Other Swimming Pool YN No Waterfront Description RiverWalk to Water

Interior Features

Attic YN No Basement Description None Cooling System None Heat Type Hot Air Sq Ft Est Heated Above Grade 15136 Sq Ft Total 15136 Total Rooms Multi Family 0

Property Features

Agent Owner YN No Bank Owned Property No Financing Used Other Foundation Type Concrete Fuel Tank Location Non Applicable Gross Annual Expense 109805 Gross Annual Income 218520 Heat Fuel Type ElectricNatural Gas Home Owners Assocation No Home Warranty Offered YN No Hot Water Description ElectricNatural Gas Net Operating Income 108715 New Construction Type No/Resale Potential Short Sale No Property Sub Type Other Sewage System Public Sewer Connected Tax Year July 2023-June 2024 Total Number Of Units 16 Water Source Public Water Connected Zoning B-1

Listing information © 2024 Smart MLS
Listing provided courtesy of Lisa Cozzi of Berkshire Hathaway NE Prop.: (860) 633-3674.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc. Data last updated: 2024-05-26T00:11:15.267.
 
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Tim Dent Team | Coldwell Banker Realty
398 Main Street
Ridgefield CT, 06877