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Royal Oak Realty Group

Brokered by: VC Property Group, LLC

202 Broadway Norwich Connecticut 06360

202 Broadway, Norwich, CT 06360, USA
16 beds
3861 sq ft
0.76 sq ft
$1,575,000

Property Details

  • Type:
  • Status:
  • List Date: 2026-08-06
  • Year built: 1843
  • Bedrooms: 16
  • Bathrooms: 0
  • Area, sq ft: 3861 sq ft
  • County: New London
  • Lot size, sq ft: 0.76 sq ft
  • Pool: 0
  • Tax Amount: $9,029
  • Days on Market: 21

Description

  • Description:

    Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong tenant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.

Structure

  • Style: Units on different Floors,Units are Side-by-Side
  • Roof: Asphalt Shingle
  • Garage: Off Street Parking
  • Basement: Full

Utilities

  • Sewer: Public Sewer Connected
  • Water: Public Water Connected
  • Heating: Steam

Location

Source

  • Listed by: Anthony Velez
  • Brokered by: VC Property Group, LLC
  • SMARTMLS property ID:: 24194779

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