$1,535,000 ($241.88 per sqft)

Est. Mortgage $7,762/mo *

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Price History

$1,460,000
1/19/2023

$1,350,000
5/1/2023

$1,535,000
5/29/2024

23 Hayward Avenue, Colchester, CT, 06415

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32 rooms

12 beds

9 Full baths

1780

Units on different Floors

6,346 sqft

Rarely available 9 unit multifamily on Colchester town green! Currently offered at a solid 8.0% Cap Rate with tremendous upside! The main building, dating back to 1780 and known as the Joseph Isham House, exudes charm and character that is attractive to prospective tenants. This property offers a lucrative investment opportunity with well-qualified tenants and minimal vacancies, reflecting the high demand for rental properties in the thriving Colchester market. Each unit has been thoroughly renovated by current ownership while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola overlooking the town. Capital improvements over the past decade include: electrical, plumbing, insulation, roof, main sewer line to street, energy efficient double pane windows, vinyl and tile flooring, drywall, fire rated steel doors, wired fire alarm system, separately metered electric panels, landscaping and tree work. The unit mix includes (1) efficiency, (5) 1-beds, (2) 2-beds, and (1) large 2-bed penthouse, each with separate and tenant paid electric water heaters and baseboard heat. Capitalize on high demand as rents continue to soar, with a rent roll that has already seen a remarkable 15% increase from 2022. Don't miss out on this one-of-a-kind opportunity and a chance to outperform most multifamily investments!

Status:

Active

Type:

Multi-family

Laundry Remarks:

Coin Op Laundry

Units:

Zoning:

R-30

Garage:

None, On Street Parking, Off Street Parking, Driveway

Heating:

Baseboard

Cooling:

Window Unit

Basement:

Full, Unfinished

Parking:

10-car

Acreage:

0.29

Est. Taxes:

$12,456

Assessment

$457,600

Lot Description:

Lightly Wooded,Level Lot

Elementary School:

Per Board of Ed

Middle School:

Per Board of Ed

High School:

Per Board of Ed

Days on Market:

507

MLS #:

170545645

Community Info

School Info

Walk Score

Mass Transit

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Jerry Mason

$1,535,000 ($241.88 per sqft)

Price History

23 Hayward Avenue, Colchester, CT, 06415

Community Info

School Info

Walk Score

Mass Transit

Yelp

Similar Properties

$1,679,000

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$1,400,000

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$1,490,000

27A Melba Street, Milford, (Bayview), CT, 06460

$1,585,000

3815 Sea Gate Avenue, #10, City Not Found, CT, 11224

$1,500,000

77 Macon Street, City Not Found, CT, 11216

$1,500,000

139 Lockwood Avenue, Stamford, (Cove), CT, 06902

$1,600,000

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$1,490,000

27 Melba Street, Milford, CT, 06460

$1,400,000

19-21 Maple Road, West Haven, (Savin Rock), CT, 06516

$1,395,000

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$1,500,000

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$1,650,000

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23 Hayward Avenue, Colchester, CT, 06415

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