REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,100,000
Est. payment /mo
New
163 Main Street Deep River, CT 06417
11 Beds
12 Baths
8,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $247
MLS Listing ID 24170538
Style Units on different Floors,Units are Side-by-Side
Bedrooms 11
Full Baths 10
Half Baths 2
Year Built 1850
Annual Tax Amount $10,593
Lot Size 3,049 Sqft
Property Sub-Type 5 Family+
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.
Location
State CT
County Middlesex
Zoning VCD
Rooms
Basement Full
Interior
Heating Hot Air
Cooling None
Exterior
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot
Foundation Masonry
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Deep River
High Schools Per Board Of Ed
Listed by Connor Wenchell • VC Property Group, LLC
NEARBY SCHOOLS & PROPERTIES