Sold for $390,000
$390,000
538 Manchester Road, Glastonbury, CT 06025
2beds
2,430sqft
Multi Family
Built in 1820
-- sqft lot
$458,600 Zestimate®
$160/sqft
$2,091 Estimated rent
Home value
$458,600
$431,000 - $495,000
$2,091/mo
Zestimate® history
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Owner options
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What's special
Charming Investment Opportunity, Post Office and Apartment for Sale. A unique and profitable investment opportunity in the heart of Glastonbury. This property offers not just one, but two lucrative income streams: a fully operational post office and a well-appointed apartment, making it an ideal investment for savvy investors seeking a stable and diverse portfolio. Situated in a bustling neighborhood, this property benefits from a prime location, ensuring a steady flow of customers for the post office. Its convenient accessibility and high visibility make it a favorite spot among locals, guaranteeing the success of the post office that has been here for over 40+ years. The property boasts a fully operational post office, serving the community's mailing needs. In addition to the post office, there is a charming apartment that provides a consistent rental income. The symbiotic combination of these two ventures offers a remarkable 8% cap rate, making it a financially sound investment opportunity. The apartment, with a long term tenant that is currently on a m2m lease occupies a thoughtfully designed and maintained home with exposed stone and beautiful layout., With a reliable tenant base, you can enjoy a predictable revenue stream month after month. The property's layout and amenities make it highly desirable for tenants, ensuring minimal vacancies and maximum returns on your investment. Investors will appreciate the opportunity to acquire a property with a proven track record of rental income and a thriving post office business. With a return of 7.9%, you can invest with confidence, knowing you are making a sound financial decision that promises both stability and growth. Don't miss out on this rare chance to own a property that not only provides a steady income but also offers potential for future appreciation. Whether you're an experienced investor or a newcomer to the real estate market, 538 Manchester Rd is a smart choice that combines financial security with a touch of community charm. Possibilities for a additional income source with possible 2nd floor rental area if converted to useable space, currently being used as empty prior storage space. Property has been updated throughout the years and went a major renovation about 10 years ago from the previous owner. Seller is a Connecticut licensed real Estate Agent
Zillow last checked: 8 hours ago
Listing updated: April 18, 2024 at 01:52am
Listed by:
Steven Joseph 860-707-5634,
William Raveis Real Estate 860-388-3936
Bought with:
Florian C. Orleanu, RES.0797639
eXp Realty
Source: Smart MLS,MLS#: 170606579
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
Heating
- Baseboard, Propane
Cooling
- Zoned
Appliances
- Included: Water Heater
- Laundry: In Unit
Features
- Basement: Full
- Attic: Walk-up
Interior area
- Total structure area: 2,430
- Total interior livable area: 2,430 sqft
- Finished area above ground: 2,430
Property
Parking
- Total spaces: 8
- Parking features: Paved, Unpaved
Accessibility
- Accessibility features: Handicap Parking, Accessible Approach with Ramp
Lot
- Size: 0.75 Acres
- Features: Corner Lot
Details
- Parcel number: 572139
- Zoning: RR
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Units on different Floors
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Stone
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1820
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
Community & neighborhood
Location
- Region: Glastonbury
- Subdivision: East Glastonbury
Price history
| Date | Event | Price |
|---|---|---|
| 3/22/2024 | Sold | $390,000-2.3%$160/sqft |
Source: | ||
| 2/13/2024 | Listed for sale | $399,000$164/sqft |
Source: | ||
| 2/2/2024 | Pending sale | $399,000$164/sqft |
Source: | ||
| 11/1/2023 | Listed for sale | $399,000+59.6%$164/sqft |
Source: | ||
| 8/23/2021 | Sold | $250,000$103/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 06033
Nearby schools
GreatSchools rating
- 8/10Gideon Welles SchoolGrades: 5-6Distance: 0.9 mi
- 7/10Smith Middle SchoolGrades: 6-8Distance: 3.2 mi
- 9/10Glastonbury High SchoolGrades: 9-12Distance: 3.1 mi
Schools provided by the listing agent
- High: Glastonbury
Source: Smart MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
$458,600
2% more+$9,172
With Zillow Showcase(estimated)$467,772
