Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    243 N Elm Street Torrington, CT 06790

    View on Map
    Claim this Listing
    For Sale
    $975,000

    MULTI_FAMILY - Torrington, CT

    Property size:
    5,755 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $169/SF
    Added:
    Mar 10, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 25 at 7:06 pm

    Property Features for 243 N Elm Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    LB
    Bedrooms
    15
    Bathrooms
    5
    Rooms
    Bedroom 4, Bedroom 12, Bedroom 6, Basement, Bedroom 1, Bedroom 15, Bedroom 10, Bedroom 3, Bedroom 8, Bedroom 13, Bedroom 14, Bathroom 3, Bedroom 9, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 11, Bedroom 5, Bathroom 5, Bedroom 7, Bedroom 2
    Parking
    20
    Exterior features
    Sidewalk,Gutters,Lighting
    Basement
    Full
    Standard status
    Active
    Size
    5,755 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    14774

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Chris Carozza

    Listing agent Chris Carozza License #RES.0768259

    Listing office RE/MAX Right Choice 25 Crescent Street, Trumbull, CT

    Listing date Mar 10, 2026

    MLS# 24157670 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Income Property in Torrington

    This is a turnkey, fully occupied, income-producing multi-family property located in the north end of Torrington. The property consists of five units: one 2-bedroom unit, three 3-bedroom units, and one 4-bedroom unit, all with functional layouts. The property has been fully updated and includes a separately deeded lot, currently used as a large parking area. Recent upgrades include a new heating system and water heaters installed in 2021, a newer roof, updated heating systems, and many replaced windows. The basement features newly added laundry and storage areas for tenant convenience. All utilities are separate. The property size is 5755 square feet and the lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Torrington
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.128057
    Latitude
    41.812088

    Nearby Similar for Sale

    • $950,000
      5,248 SF

      Turnkey Commercial Property Route 202

      Fully occupied commercial property with established tenants.
      1185 New Litchfield Street, Torrington, CT 06790
      View Details
    • $695,000
      7,588 SF

      Historic Bank Building with Elegance

      Historic bank building suitable for various commercial uses.
      236 Prospect Street, Torrington, CT 06790
      View Details
    • $585,000
      8,060 SF

      Downtown Torrington Mixed-Use Opportunity

      Mixed-use property in downtown Torrington's vibrant arts and cultural district.
      73 E Main Street, Torrington, CT 06790
      View Details
    • $474,900
      2,666 SF

      Spacious Multi-Family Home

      9-bedroom multi-family home with rental income potential.
      264 S Main Street, Torrington, CT 06790
      View Details
    • $379,000
      2,995 SF

      Torrington Two-Family Investment Opportunity

      Well-maintained two-family property in Torrington, great for investment.
      43 Evans Street, Torrington, CT 06790
      View Details
    • $349,900
      2,059 SF

      Well-Maintained Two-Family Home

      Centrally located two-family home with separate utilities and updated features.
      105 Pulaski Street, Torrington, CT 06790
      View Details
    • $350,000
      2,399 SF

      Versatile Two-Family Property in Torrington

      Two-family property with spacious living areas and bonus spaces.
      52 Workman Avenue, Torrington, CT 06790
      View Details
    • $315,000
      1,709 SF

      Torrington Multifamily Investment Opportunity

      Well-maintained two-family home ideal for investors or owner-occupants.
      213 Funston Avenue, Torrington, CT 06790
      View Details
    • $525,000
      2,970 SF

      Versatile Commercial Property For Sale

      2,970 SF commercial property with flexible layout and parking.
      443 Main St, Torrington, CT 06790
      View Details
    • $359,900
      1,996 SF

      Updated Multifamily Property in Torrington

      Updated two-family property with long-term tenants and ample parking.
      368 Migeon Avenue, Torrington, CT 06790
      View Details
    • $950,000
      5,248 SF

      Turnkey Commercial Property on Route 202

      Fully occupied commercial building with long-term tenants and high visibility.
      1185 New Litchfield Street, Torrington, CT 06790
      View Details
    • $320,000
      1,510 SF

      Established Restaurant with Real Estate

      Profitable restaurant business and real estate for sale.
      88 Water Street, Torrington, CT 06790
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully updated, income-producing 5-unit property with separate deeded lot.
    Where is this apartment building located?
    The property is located at 243 N Elm Street Torrington, CT.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Turnkey, income‑producing 5‑unit property with a **7.25% cap rate**; Fully occupied with a mix of 2, 3, and 4‑bedroom units; Recent upgrades include a new heating system and water heaters (2021), a newer roof, and many replaced windows
    (203) 912-6819
    We can help!
    Listing Contact
    Chris Carozza
    Real Estate License ID: RES.0768259
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!