23 Hayward Avenue, Colchester, CT

$1,535,000

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12

Beds

9

Baths

6,346

Square feet

0.29

Acres

About 23 Hayward Avenue

Rarely available 9 unit multifamily on Colchester town green! Currently offered at a solid 8.0% Cap Rate with tremendous upside! The main building, dating back to 1780 and known as the Joseph Isham House, exudes charm and character that is attractive to prospective tenants. This property offers a lucrative investment opportunity with well-qualified tenants and minimal vacancies, reflecting the high demand for rental properties in the thriving Colchester market. Each unit has been thoroughly renovated by current ownership while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola overlooking the town. Capital improvements over the past decade include: electrical, plumbing, insulation, roof, main sewer line to street, energy efficient double pane windows, vinyl and tile flooring, drywall, fire rated steel doors, wired fire alarm system, separately metered electric panels, landscaping and tree work. The unit mix includes (1) efficiency, (5) 1-beds, (2) 2-beds, and (1) large 2-bed penthouse, each with separate and tenant paid electric water heaters and baseboard heat. Capitalize on high demand as rents continue to soar, with a rent roll that has already seen a remarkable 15% increase from 2022. Don't miss out on this one-of-a-kind opportunity and a chance to outperform most multifamily investments!

Features of 23 Hayward Avenue

MLS® # 170545645
Price $1,535,000
Bedrooms 12
Bathrooms 9.00
Full Baths 9
Square Footage 6,346
Acres 0.29
Year Built 1780
Type Multi-Family For Sale
Sub-Type 5 Family+
Style Units on different Floors
Status Active

Community Information

Address 23 Hayward Avenue
Area N/A
City Colchester
County New London
State CT
Zip Code 06415

Amenities

Parking Spaces 10
Parking None, On Street Parking, Off Street Parking, Driveway
Is Waterfront No
Waterfront Not Applicable
Has Pool No

Interior

Heating Baseboard, Electric
Cooling Window Unit
Fireplace No

Exterior

Exterior Vinyl Siding
Exterior Features Porch, Gutters, Lighting
Lot Description Lightly Wooded, Level Lot
Roof Asphalt Shingle
Foundation Concrete, Stone

School Information

Elementary Per Board of Ed
Middle Per Board of Ed
High Per Board of Ed

Additional Information

Date Listed January 19th, 2023
Days on Market 519
Zoning R-30
RE / Bank Owned No

Listing Details

OfficeSky Realty Group

Listing Map

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