Great property with high cash flow in place and value-add potential! Updated 5 unit in a quite Meriden location. 4 units are occupied. 5th unit is legal and needs to be built out. Current Gross Income is $55,500, resulting in 12%+ CAP. Pro-rata, with the 5th unit up and running GI will be $68,400 - translating to a 15%+ CAP. Please see attached documents for additional info.
Off market
Street View
$493,000
13 Elm St, Meriden, CT 06450
--beds
0baths
3,600sqft
MultiFamily
Built in 1940
-- sqft lot
$493,000 Zestimate®
$137/sqft
$2,128 Estimated rent
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Gas
Cooling
- None
Appliances
- Laundry: Common Laundry Area
Features
- Basement: Full
Interior area
- Total interior livable area: 3,600 sqft
Property
Parking
- Total spaces: 10
- Parking features: Garage - Detached
Features
- Exterior features: Vinyl
- Waterfront features: Not Applicable
Lot
- Size: 9,583 sqft
Details
- Parcel number: MERIM219B113L9
- Zoning: C-1
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
Materials
- Roof: Asphalt
Condition
- Year built: 1940
Utilities & green energy
- Sewer: Public Sewer
- Water: Public Water Connected
Community & neighborhood
Location
- Region: Meriden
HOA & financial
Other financial information
- Total actual rent: 335000
Other
Other facts
- Sewer: Public Sewer
- Roof: Asphalt
- GarageYN: true
- AssociationYN: 0
- HeatingYN: true
- Heating: Natural Gas, Gas on Gas
- Zoning: C-1
- Basement: Full
- ConstructionMaterials: Frame, Vinyl Siding
- NumberOfUnitsTotal: 5
- LandLeaseAmountFrequency: Monthly
- ArchitecturalStyle: Other
- ParkingFeatures: Detached Garage
- FoundationDetails: Concrete
- WaterSource: Public Water Connected
- WaterfrontFeatures: Not Applicable
- TotalActualRent: 335000.00
- LaundryFeatures: Common Laundry Area
- GrossIncome: 55500
- NetOperatingIncome: 42177
- OperatingExpense: 10548
Services availability
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