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    254 Liberty St Meriden, CT 06450

    Sponsored
    For Sale
    $1,800,000

    14-Unit Apartment Building, High ROI

    Property size:
    6,971 SF

    Description

    Added:
    Jan 24, 2025
    Days on Market:
    348
    This exceptional investment opportunity presents a fully occupied, two-building multifamily property located at 252-254 and 260 Liberty Street in Meriden, Connecticut. The property comprises 14 units, a mix of studios, one-bedroom, and two newly renovated three-bedroom apartments, totaling 6,971 square feet across two buildings on a 0.23-acre lot. Built between 1885 and 1920, the buildings underwent extensive renovations between 2022 and 2024, resulting in a property with virtually no deferred maintenance. The recent upgrades include new roofs, windows, exterior paint, and updated HVAC, electrical, and plumbing systems throughout. Ten of the twelve units in 252-254 Liberty Street have been renovated in the last couple of years. 260 Liberty Street is a completely remodeled two-family home. The property boasts 12 off-street parking spaces in a newly paved lot. Currently generating over $200,000 in annual gross income, this property offers a strong rental history with some below-market rents presenting an opportunity for immediate income growth. The basement is roughed-in for a potential laundry facility, adding further income potential. The asking price is $1,800,000, translating to $258.21 per square foot. This is a turnkey investment with strong cash flow and significant upside potential. The property is managed locally, with management costs included in the provided financial statements.

    Property Features for 254 Liberty St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,971 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built/Renovated
    1885/2022
    Buildings
    2
    Stories
    3
    Units
    14

    HighLights

    • $1,800,000 asking price for a 14‑unit multifamily property.
    • 6,971 square feet of net rentable space across two buildings.
    • 14 units total: a mix of studios, one‑bedrooms, and two three‑bedroom units.
    • Recently renovated (2022‑2024) with new roofs, windows, exterior paint, and updated HVAC, electrical, and plumbing systems in most units.
    • Located in Meriden, CT, at 252‑254 & 260 Liberty St, on a 0.23‑acre lot with 12 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.789091
    Latitude
    41.5352363

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    FAQs

    What type of property is this?
    Multifamily property - 14-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 254 Liberty St Meriden, CT.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: $1,800,000 asking price for a 14-unit multifamily property.; 6,971 square feet of net rentable space across two buildings.; 14 units total: a mix of studios, one-bedrooms, and two three-bedroom units.
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    Realmo Value Estimation

    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.

    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.

    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
    254 Liberty St Meriden, CT 06450
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