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 | $900,000 |
| Bathrooms | 0.00 |
| Square Footage | 4,785 |
| Acres | 1.34 |
| Year Built | 1930 |
| Type | Multi-Family For Sale |
| Sub-Type | 5 Family+ |
| Status | Under Contract |
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 | 130 |
| Zoning | R40 |
| RE / Bank Owned | No |
Listing Details
| Office | Berkshire Hathaway NE Prop. |
|---|