79 Garfield Ave, New London, CT 06320

Serious income producing property. Rents have not been increased in a long time so additional income can be produced by bringing rents up to market. Most units are not rented at this time to allow the owner to prepare the building for sale. In addition to the units described above, there is an additional 3 room, 1 bed, 1 bath unit with appliances that rented for $750 and a 1 bed, 1 bath cottage that rents for $725 with a long-term tenant who rents month-to-month. Property has a total of 9 bedrooms and 8 baths. Rent for all units includes heat, except for the cottage which has electric heat that's paid by the tenant. Tenants pay for electricity and natural gas. Landlord pays for oil heat, water/sewer, trash pickup, lawn care and snow removal. Coin operated washer and dryer in the basement, $1.25/load. The property was appraised by the City of NL for $296,300 in 2018. The seller will be available to answer all questions at showings. Please wear a mask and gloves at showings.