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17 Woodland Street

Vernon, CT 06066
  • $1,650,000
  • STATUS: Active
  • ON SITE: 25 Days
  • MLS #: 170450169
UPDATED: 32 min ago
$1,650,000
  • 0
    BEDS
  • 0.77
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,566
    SQFT
  • $131
    $/SQFT
Type:
Commercial
Built:
1900
County:
Area:

School Ratings & Info

Description

Attention investors! Tired of hunting each morning for deals but coming up with duds? Presenting a unique opportunity to buy a package of (5) rarely available 4-unit buildings in Vernon (20 units total). The portfolio contains (16) 1-bedroom units, (2) 4-bedroom units, (2) 2-bedroom units. The portfolios current gross income is approximately $205,000 and the current NOI is $121,000. Rents are well below market value. The average rent for 1-bedroom units in this portfolio is $825/mo (including heat and hot water). The landlord recently rented a 1-bedroom for $1,200 and another one for $1,225. There is an estimated $4,990 per month ($59,880 annually) in additional profit from rent increases. The property is listed at a 7.25% cap rate. After rent increases the property will be an 11% cap rate.This portfolio is easy to manage, 3 of the properties are adjacent. Addresses are 5, 7, and 9 Fern St, 75 Orchard St, 17 Woodland St. The properties have been extremely well maintained, there is little deferred maintenance. One of the properties was completely re-built in 2010. 3 of the properties have roofs that are less than 3 years old.

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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-11-30T13:10:10.72.
www.ilkatorres.com/homes/123045749
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17 Woodland Street Vernon, CT 06066

  • Price: $1,650,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 32 min ago
  • MLS #: 170450169
0
Beds
0
Baths
0
½ Baths
0.77
Acres
12,566
SQFT
$131
$/SQFT
1900
Built
County:
Tolland
Area:
Vernon
Property Description
Attention investors! Tired of hunting each morning for deals but coming up with duds? Presenting a unique opportunity to buy a package of (5) rarely available 4-unit buildings in Vernon (20 units total). The portfolio contains (16) 1-bedroom units, (2) 4-bedroom units, (2) 2-bedroom units. The portfolios current gross income is approximately $205,000 and the current NOI is $121,000. Rents are well below market value. The average rent for 1-bedroom units in this portfolio is $825/mo (including heat and hot water). The landlord recently rented a 1-bedroom for $1,200 and another one for $1,225. There is an estimated $4,990 per month ($59,880 annually) in additional profit from rent increases. The property is listed at a 7.25% cap rate. After rent increases the property will be an 11% cap rate.This portfolio is easy to manage, 3 of the properties are adjacent. Addresses are 5, 7, and 9 Fern St, 75 Orchard St, 17 Woodland St. The properties have been extremely well maintained, there is little deferred maintenance. One of the properties was completely re-built in 2010. 3 of the properties have roofs that are less than 3 years old.
Exterior Features

Construction Description Frame Foundation Type Concrete Lot Description Level Lot Parking Total Spaces 0 Road Frontage Description Paved Road Roof Information Asphalt Shingle

Interior Features

Cooling System Window Unit Heat Type BaseboardHot WaterHydro Air

Property Features

Bank Owned Property Yn No Commercial Category Residential Income Documents Available Lead DisclosureNone Garage Parking Info DrivewayOff Street Parking Heat Fuel Type Natural GasOil Location Highway Access Possession Availability Negotiable Potential Short Sale Yn No Present Use Residential Property Tax 4737 Sewage System Public Sewer Connected Sign Yn No Utilities Available Electric AvailableGas AvailablePhone AvailableCable Available Water Source Public Water Connected Zoning Nr-10

Listing information © 2021 Smart MLS
Listing provided courtesy of Lou Raven of Exp Realty.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-11-30T13:10:10.72.
 
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