37-39 S B Street

Description

PHOTOS COMING SOON!! VC Property Group is proud to present a high-performing 3-family asset at 37-39 South B Street in Norwich, CT, offering immediate cash flow with clear upside through light value-add execution. This property is situated on an oversized 0.44-acre lot and is currently occupied across two units, with one 1-bedroom unit requiring approximately $15,000 in renovations to achieve full market rental potential. The asset benefits from off-street parking and a tenant-paid utility structure, helping minimize operating expenses and maximize investor returns. Once stabilized, the property supports a projected $54,000 annual gross income, driving strong returns relative to basis. At the current pricing, the deal presents an exceptionally attractive yield profile, with proforma metrics reaching approximately a 13.4% CAP rate and 31% ROI, positioning this as a rare opportunity for both new and experienced investors seeking strong cash-on-cash performance. The two occupied units provide in-place income stability, while the vacant unit creates a straightforward path to value creation through renovation and lease-up. Additionally, nearby comparable sales-such as a recent transaction just two blocks away at $375K-support both pricing and long-term appreciation potential. This is a plug-and-play cash flow asset with built-in equity creation, ideal for investors looking to step into a high-return deal with minimal execution risk. Seller financing is not being Can be purchased alongside other nearby multifamily assets. Call Listing Agent to Inquire.