43 Granite St - Apartments FOR SALE


New London, CT 06320
$4,725,000 USD
203-692-2420
43 Granite St, New London, CT for Sale
$4,725,000 USD
Apartments - FOR SALE
1/14
null | 7.03% Cap Rate

43 Granite St
New London, CT 06320


HIGHLIGHTS

  • Value-Add Opportunity - $100,000 in Upside
  • Flourishing Submarket – Economic Strength
  • Exceptional Rental Demand
  • Diverse & Resilient Employment Ecosystem
  • Immediate Access to Transportation & Transit
  • Local Shopping, Dining, Nightlife, Arts & Culture

OVERVIEW

Northeast Private Client Group is pleased to exclusively present Highland Apartments, a 31-unit value-add apartment building located in New London, Connecticut. Built in 1920, the property is comprised of 8 studio, one bath, 16 one bedroom, one bath, and 7 two bedroom, one bath apartments set on 0.51 acres. Highland Apartments’ location provides immediate access to Interstates 95 & 395, the New London Union Train Station, and the New London Ferry Terminal. Additionally, it provides convenient access to local shopping, dining, nightlife, and several community parks, as well as Connecticut College, the United States Coast Guard Academy, and Lawrence Memorial Hospital. This property presents an ideal opportunity for investors looking to acquire a stable asset with significant upside potential in a burgeoning market. A new owner will have the opportunity to improve curb appeal and amenities and continue unit renovations to capture a proven premium in the market.

FOR SALE DETAILS

PRICE

$4,725,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

31

PRICE/UNIT

$152,419

CAP RATE

7.03%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highland Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

-

APN/PARCEL ID

NLON-000039-000235-000004

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.