44 Gerry St, Greenwich, CT 06830

Property Details for 44 Gerry St

Year built

1958

Lot size

0.12 lot acres

Property type

Residential income homes

Description

This exceptional Greenwich, Connecticut property presents a unique investment opportunity. Located at 44 Gerry St, 06830, this 2-story, 2,268 square foot home sits on a 0.12-acre lot in a highly desirable R-6 Multi-Family zone. Built in 1958, the property offers immediate cash flow potential with a current pro-forma NOI of $49,544 and a 5.08% pro-forma cap rate. The asking price is $975,000, representing a price per square foot of $429.89. Currently configured as a single-family residence, the home boasts three bedrooms and one bathroom on the main level, along with a spacious living and dining area featuring a fireplace, and a kitchen opening onto a terrace and yard. A finished lower level provides additional living space, ideal for an in-law suite, home office, or playroom, complete with a second fireplace, wet bar, and a two-car tandem garage. The property's zoning allows for conversion into a multi-unit dwelling, offering significant future development potential, with a maximum buildable square footage of 2,971 square feet. This presents a compelling opportunity for both immediate income generation and long-term value appreciation in a prime Fairfield County location. The property is impeccably maintained and situated on a quiet dead-end street.

Location Insight

City

Greenwich

County

Fairfield

State

Connecticut

Longitude

-73.6426562

Latitude

41.0160764