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$ 550,000
Est. payment | /mo
5 Baths
1,848 SqFt
$ 550,000
Est. payment | /mo
5 Baths
1,848 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 1,848 sqft
Price per Sqft $297
MLS Listing ID 24112070
Style Units on different Floors
Full Baths 5
Year Built 1887
Annual Tax Amount $6,071
Lot Size 3,484 Sqft
Property Sub-Type 5 Family+
Property Description
****Turnkey 5-Unit Investment Property with Major Upside *** Welcome to 33-35 Granfield Avenue - a fully detached five-family asset offering strong fundamentals and excellent income growth potential. The layout includes a mix of studios and junior one-bedrooms, ideal for long-term rental stability in a high-demand area. One unit has been fully renovated and is ready for occupancy. Recent upgrades include a brand-new boiler installed in 2024 and a new roof, minimizing near-term capital expenses. The property is serviced by both gas and electric utilities. Current rents are below market, presenting a clear opportunity to increase cash flow over time. Once stabilized, the property is projected to deliver a cap rate of approximately 12.4%, making it a compelling option for investors seeking value and long-term upside. Conveniently located near public transportation, shopping, and major roadways, this low-maintenance, income-producing property is a smart addition to any portfolio.
Location
State CT
County Fairfield
Zoning RC
Rooms
Basement Full, Unfinished
Interior
Heating Hot Air
Cooling None
Exterior
Parking Features None
Waterfront Description Beach Rights
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Masonry
Sewer None
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Lisa Nussbaum • Top Tier Realty Group, LLC