7-Unit Multifamily
For Sale
$795,000
7 Broad Street, Norwich, CT 06360
Seven-unit mix of studios, one- and two-bedroom homes with tenant-paid utilities and off-street parking.
Property Size5,069 SF
Lot Size0.39 Acres
Price / SF$156.84
Days on Market95
Property Features for 7 Broad Street
General Information
Standard status
Active
Size
5,069 SF
Lot size
0.39 Acres
Property subtype
5 Family+
Occupancy
100%
Additional Details
Multifamily Units
7
Building Details
Year Built
1820
Listing Agency:
VC Property Group, LLC
Listed By:
Anthony Velez · License #REB.0795536
(860) 300-3102
Source:
Lockandkeyre
Added: Jun 6
Changed: Sep 8
Last Checked: Sep 8 at 4:51AM
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.
This offering is a 7-unit multifamily property configured with three 2-bedroom units, two 1-bedroom units, and two studio units. The building is currently 100% occupied, with two units recently leased at market rents. Tenants pay utilities, and the property includes off-street parking along with public water and sewer services. The site is a spacious 0.39-acre lot, providing room for resident parking and general on-site use.
Located in a sought-after residential area of New London County, the property is described as convenient to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation routes. The remarks also note limited multifamily inventory in the area, which supports continued rental demand.
For investors, this property presents an operationally straightforward income opportunity supported by existing occupancy and tenant-paid utilities. The current mix of unit types can appeal to a broad range of renters, and the property is being marketed with projected stabilized annual income of approximately $133,800 and a projected 14.78% stabilized ROI. The seller also indicates the property may be purchased in combination with a nearby 7-unit multifamily at 202 Broadway, creating the option to assemble a 14-unit portfolio within close proximity.
Located in a sought-after residential area of New London County, the property is described as convenient to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation routes. The remarks also note limited multifamily inventory in the area, which supports continued rental demand.
For investors, this property presents an operationally straightforward income opportunity supported by existing occupancy and tenant-paid utilities. The current mix of unit types can appeal to a broad range of renters, and the property is being marketed with projected stabilized annual income of approximately $133,800 and a projected 14.78% stabilized ROI. The seller also indicates the property may be purchased in combination with a nearby 7-unit multifamily at 202 Broadway, creating the option to assemble a 14-unit portfolio within close proximity.
Key Highlights
- 7‑unit multifamily property, originally built in 1820
- Unit mix includes three 2‑bedroom units, two 1‑bedroom units, and two studio units
- Currently 100% occupied, with two units recently leased at market rents
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
Business Placement
Demographics for 06360, CT
37,104
Population
17,739
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
88%
High-School Grad
26.8 sq mi
ZIP Area
1,384
Density / Sq Mi
$65,848
Median Household Income
$42,287
Median Earnings
$1,207
Median Rent
$233,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit mix of studios, one- and two-bedroom homes with tenant-paid utilities and off-street parking.
Where is this apartment building located?
The property is located at 7 Broad Street Norwich, CT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 7‑unit multifamily property, originally built in 1820; Unit mix includes three 2‑bedroom units, two 1‑bedroom units, and two studio units; Currently 100% occupied, with two units recently leased at market rents
