178 West Main Street, East Lyme, CT

$732,500

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4,785

Square feet

1.34

Acres

About 178 West Main Street

Welcome to Shady Oaks. This multifamily property consists of 8 separate cottages. 7 (1bd/1ba)/(Studio) cottage apartments that range from 450-600 sq/ft. 1 (2bd/1ba) single family home that is 818 sq/ft. Huge upside in raising rents on these year-round apartments or by possibly converting them into Airbnb/short term rental. Big value add play, potential to turn this property into 9 or 10 units total. A fire damaged duplex at the front of the property is waiting to be rebuilt. Seller has approvals for a single family on the same footprint. Proximity to the ocean, casinos, downtown Mystic CT, and more. Great location for tenants/short term rental. Great tenants currently! Please see financials attached in downloads for more detailed breakdown of each unit utilities. All units pay their own heat, hot water, and electric.

Features of 178 West Main Street

MLS® # 170569789
Price $732,500
Bathrooms 0.00
Square Footage 4,785
Acres 1.34
Year Built 1930
Type Multi-Family For Sale
Sub-Type 5 Family+
Status Closed

Community Information

Address 178 West Main Street
Area N/A
City East Lyme
County New London
State CT
Zip Code 06357

Amenities

Parking Off Street Parking
Is Waterfront No
Waterfront Not Applicable
Has Pool No

Interior

Heating Baseboard, Electric
Cooling Window Unit
Fireplace No

Exterior

Exterior Vinyl Siding, Other
Exterior Features Deck
Lot Description Lightly Wooded, Secluded
Roof Asphalt Shingle
Foundation Concrete

School Information

Elementary Per Board of Ed
High Per Board of Ed

Additional Information

Date Listed May 16th, 2023
Days on Market 332
Zoning R40
RE / Bank Owned No

Listing Details

OfficeBerkshire Hathaway NE Prop.

Listing Map

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