8,500 SF 5 Family+

multifamily

8,500 SF 5 Family+

59-65 Maple Street
Chester, Connecticut 06412

Price

$2,100,000

Price/SF

$247.06/SF

Building Size

8,500 SF

Lot Size

2.56 acres

Year Built

1975

Units

13

Property Description

A mixed-use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley. The offering includes: 59 Maple Street (Chester): 7-unit multifamily asset with an additional ~1,500 SF commercial warehouse on 2.5+ acres. 163 Main Street (Deep River): 5-unit mixed-use property positioned at the gateway to the downtown retail corridor. The portfolio is fully occupied and generates approximately $210,000+ in current gross income, with upside to over $280,000 stabilized, driven by residential and commercial rent growth. At stabilization, the portfolio delivers approximately $175,748 NOI and a 8.37% cap rate, supported by a strong 1.58x DSCR. The possibility to develop the 3rd floor of 163 Main Street into additional units can drive returns even higher! This is a rare opportunity to acquire scale across two supply-constrained markets, combining in-place cash flow with clear mark-to-market upside across both residential and commercial components.

Additional Details

Zoning

PRD

MLS Number

24170551

Property ID

e9066aef-acf7-44f6-9008-176960cdfc4f

MLS Information

MLS#: 24170551

Listed by: VC Property Group, LLC

Agent: Connor Wenchell • (860) 343-7800 • leads@vcpropertygrp.com

This property information is provided by SmartMLS. Data may be subject to change. All information should be independently verified.

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) Program of SmartMLS. Real estate listings held by brokerage firms other than Great River Commercial are marked with the IDX logo.

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