23
See all 23 photos
$524,900
Est. payment /mo
9 Beds
4 Baths
2,400 SqFt
Under Contract
205 Shaw Street New London, CT 06320
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Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $218
MLS Listing ID 24063083
Style Units on different Floors
Bedrooms 9
Full Baths 4
Year Built 1900
Annual Tax Amount $4,362
Lot Size 6,534 Sqft
Property Sub-Type 4 Family
Property Description
Attention investors! 205 Shaw Street is a value-add 4-family investment property offering immediate cash flow over an 8.2 cap with potential to stabilize over a 9.5 CAP. This prime value-add opportunity features full occupancy, with recent renovations in all four units. Basement unit and Unit 2 are completely renovated featuring brand-new vinyl flooring, stainless steel appliances, and modern finishes, appealing to today's renters. Located in a high-demand area with steady rent growth, it's just 3 miles from the Groton Submarine Base, local beaches, and universities, and only a 15-minute commute to Electric Boat. Situated one block from a brand-new luxury apartment complex, this property guarantees strong rental demand. Whether you're looking to build your portfolio or live mortgage-free with rental income covering your expenses, 205 Shaw Street is a rare opportunity to own an asset with strong upside in a thriving market.
Location
State CT
County New London
Zoning R-2
Rooms
Basement Full, Apartment
Interior
Heating Hot Air
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Gable
Building
Lot Description Corner Lot
Foundation Stone
Sewer Public Sewer In Street
Water Public Water In Street
Schools
Elementary Schools Harbor
High Schools New London
Listed by Micah Bailey • Alpha Capital Realty, LLC