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
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