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153 Bank St 9 Unit Apartment Building $2,450,000 ($272,222/Unit) 4.78% Cap Rate New London, CT 06320
Executive Summary
Mixed Use Property with 4 commercial units and 6 apartments located in the heart of downtown New London.
This 17,378 SF, 3 story building has 4 commercial units in 3,942 SF on the ground level SF commercial and 6 apartments on the 7,884 SF second and third floors. There is a 3,942 SF basement.
NOI approximately $117,227. Two of the commercial units are recently vacant so there is room to increase NOI. Call office for financials.
Excellent investment property with stable cash flow. Property may be purchased as a package with 53 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
This 17,378 SF, 3 story building has 4 commercial units in 3,942 SF on the ground level SF commercial and 6 apartments on the 7,884 SF second and third floors. There is a 3,942 SF basement.
NOI approximately $117,227. Two of the commercial units are recently vacant so there is room to increase NOI. Call office for financials.
Excellent investment property with stable cash flow. Property may be purchased as a package with 53 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Property Facts
| Price | $2,450,000 | Building Class | B |
| Price Per Unit | $272,222 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 13,436 SF |
| Cap Rate | 4.78% | No. Stories | 3 |
| No. Units | 9 | Year Built | 1925 |
| Property Type | Multifamily | No. Drive In / Grade-Level Doors | 2 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CBD - Central Business District | ||
| Price | $2,450,000 |
| Price Per Unit | $272,222 |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 13,436 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| No. Drive In / Grade-Level Doors | 2 |
| Opportunity Zone |
Yes |
| Zoning | CBD - Central Business District |
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Very walkable
80/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | NLON-000028-000140-000016 | Improvements Assessment | $521,500 |
| Land Assessment | $105,900 | Total Assessment | $627,400 |
Property Taxes
Parcel Number
NLON-000028-000140-000016
Land Assessment
$105,900
Improvements Assessment
$521,500
Total Assessment
$627,400
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153 Bank St
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