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John-Michael Rachinsky-Wood

jm@harborbridgere.com +1(203) 667-3443

$2,100,000

Est. payment - /mo

11 Beds

12 Baths

8,500 SqFt

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UPDATED:

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 24170551

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

Bedrooms 11

Full Baths 10

Half Baths 2

Year Built 1975

Annual Tax Amount $12,134

Lot Size 2.560 Acres

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 PRD

Rooms

Basement Full

Interior

Heating Baseboard

Cooling None

Exterior

Parking Features Detached Garage, Driveway

Garage Spaces 1.0

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description Treed

Foundation Concrete

Sewer Septic

Water Public Water Connected, Private Well

Schools

Elementary Schools Chester

High Schools Per Board Of Ed

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Listed by Connor Wenchell • VC Property Group, LLC

NEARBY SCHOOL & BUSINESS

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John-Michael Rachinsky-Wood

+1(203) 667-3443

Broker | License ID: REB.0792632

Broker License ID: REB.0792632

59-65 Maple Street Chester, CT 06412

John-Michael Rachinsky-Wood

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION