23 Hayward Avenue, Colchester, CT


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Square feet



About 23 Hayward Avenue

Rarely available 9 unit multifamily on Colchester town green! Currently offered at a 7% Cap Rate with a 7.6% ROI and tremendous upside! The main building has 7 units and there is a 2 unit cottage in the rear of the property. This investment opportunity boasts a historically low vacancy rate due to increasing demand for apartment rentals in local market. Current ownership has gut-renovated each unit over the past decade, while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola on top of the 3rd floor penthouse apartment. Renovations include new: electrical, plumbing, insulation, roof, sewer line, energy efficient double pane windows, flooring, drywall, fire rated steel doors, wired fire alarm system, and separately metered electric. All apartments feature separate and tenant paid electric electric baseboard heat. The unit mix is (1) efficiency, (3) 1 beds, (2) 2 beds, and a large 2 bedroom penthouse apartment, approximately 1,800 SF. There are (2) 1 bedroom units in the cottage in the rear of the property. Prime downtown location next to the Town Green where community events are held regularly. Amenities can be found all around and include: restaurants, retail shopping, grocery stores, and service businesses. Very easy and convenient access to Route 2 and Route 85. Only 25 minutes to Hartford, Norwich and New London. One of a kind property, call today to schedule a private tour!

Features of 23 Hayward Avenue

MLS® # 170545645
Price $1,350,000
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


Parking Spaces 9
Parking Driveway, On Street Parking, Off Street Parking
Is Waterfront No
Waterfront Not Applicable
Has Pool No


Heating Baseboard, Electric
Cooling Window Unit
Fireplace No


Exterior Vinyl Siding
Exterior Features Gutters, Lighting, Porch
Lot Description Level Lot, Lightly Wooded
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 407
Zoning R-30
RE / Bank Owned No

Listing Details

OfficeSky Realty Group

Listing Map

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