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175 Main St 9 Unit Apartment Building $950,000 ($105,556/Unit) 8.30% Cap Rate Winsted, CT 06098
INVESTMENT HIGHLIGHTS
- Capital Expenditures: One Roof 2023 & One Roof 2021
- Fire Rated Doors, Fire Alarms & Strobe Lights
- Great Unit Mix
- Strong Anchor Tenant: Noli's - in business for over 20 Years: $2,266 / month + 3% Increase
- Pride of Ownership
EXECUTIVE SUMMARY
Amazing opportunity to acquire a 9 Unit Asset (7 Apartments + 2 Retail) in Torrington with anchor tenant Noli’s Restaurant (Rent $2,266 w 3% increase/year) w over 20 years in business! Pride of Ownership is evident with Capital Improvements made by the current owners, including: new water heaters, heating zones, electrical upgrades, fire rated tenant main doors & new fire alarms/strobes in both buildings. The unit mix is: 1, 4 bedroom ($1,100); 4, 2 bedrooms ($1,000; $1,050; $900; 1 vacant to show) and 2, 1 bedroom units ($950 each). The175 Main St had a roof replacement in 2021, a privacy fence enclosure installed & all 4 residential units have gone through renovations. 183 Main St has had a roof replacement in 2023, aft wall structural repair, new studs, insulation, beams & siding. 183 2A has been refurbished. One retail space is leased to Noli’s and Italian Eatery and their space has a patio. They pay their heat and electric. The current owner leased the second retail space to Northwest Soup & Deli ($1500 then $1650 on 1/1/2025) and this establishment has all new equipment. They pay their own electric and a fixed gas, water/sewer reimbursement to the Owner. The residential tenants pay their electric. Owners are very meticulous and detail oriented. This is a seamless opportunity to own a well-run asset.
PROPERTY FACTS
| Price | $950,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $105,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 8.30% | Building Size | 4,860 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | CB-2 - Town Center | ||
| Price | $950,000 |
| Price Per Unit | $105,556 |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,860 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | CB-2 - Town Center |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Smoke Detector
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | WINC-000111-000070-000018 | Improvements Assessment | $169,190 |
| Land Assessment | $26,180 | Total Assessment | $195,370 |
PROPERTY TAXES
Parcel Number
WINC-000111-000070-000018
Land Assessment
$26,180
Improvements Assessment
$169,190
Total Assessment
$195,370
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