7-Unit Multifamily Apartment
202 Broadway Norwich, CT 06360
For Sale
$895,000
Seven-unit income property with off-street parking and full occupancy.
Property Size3,861 SF
Price / SF$231.81
Days on Market51
Property Features for 202 Broadway
General Information
- Standard status
- Active
- Size
- 3,861 SF
- Property subtype
- 5 Family+
Building Details
- Year Built
- 1843
Listing Agency:
VC Property Group, LLC
(860) 300-3102
Listed By:
Anthony Velez
(860) 300-3102
Source:
Lockandkeyre
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 25 at 6:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of VC Property Group, LLC
Investment Insights
Based on property information with market context.
202 Broadway is a 7-unit multifamily apartment building offering an existing, stabilized rent roll and off-street parking. The units are described as being in above-market condition, supporting an immediate operational position without the need for significant capital improvements. The property is presented as 100% occupied, with the current rent structure reflecting potential for additional income through continued leasing and rent optimization.
The building is located in one of Norwich’s most desirable rental corridors, directly across from the Cathedral of St. Patrick. The offering also notes proximity to the New London market, estimated at about 15 minutes away, and situates the property within Eastern Connecticut’s broader workforce-driven rental demand.
For investors or owner-operators seeking scale, the seller’s pro forma information highlights a projected NOI of approximately $88,000 and a projected 14% cash-on-cash return. The case is positioned as a Day 1 cash-flowing asset profile, emphasizing that major renovation risk is not expected to be required to execute the initial strategy. Through strategic lease-up and rent growth assumptions, the opportunity is framed around value creation tied to the property’s existing condition and occupancy level.
The building is located in one of Norwich’s most desirable rental corridors, directly across from the Cathedral of St. Patrick. The offering also notes proximity to the New London market, estimated at about 15 minutes away, and situates the property within Eastern Connecticut’s broader workforce-driven rental demand.
For investors or owner-operators seeking scale, the seller’s pro forma information highlights a projected NOI of approximately $88,000 and a projected 14% cash-on-cash return. The case is positioned as a Day 1 cash-flowing asset profile, emphasizing that major renovation risk is not expected to be required to execute the initial strategy. Through strategic lease-up and rent growth assumptions, the opportunity is framed around value creation tied to the property’s existing condition and occupancy level.
Key Highlights
- 7‑unit multifamily property built in 1843
- 100% occupancy with current off‑street parking
- Units reported in above‑market condition, supporting immediate rent growth
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Seven-unit income property with off-street parking and full occupancy.
Where is this apartment building located?
The property is located at 202 Broadway Norwich, CT.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 7‑unit multifamily property built in 1843; 100% occupancy with current off‑street parking; Units reported in above‑market condition, supporting immediate rent growth
