Contacts
Rich Edwards
Northeast Private Client Group
(203) 307-1577
Property Details
- Property Type Multi-Family
- Property Size 5,925 SF
- Units 6
- Year Built 1989
- Date Updated Apr 11, 2024
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Reach out to the broker for more info on lease terms and amenities
Highlights
- Value Add Opportunity - Current Rents Sit 20%+ Below Renovated Market Comparables
- Average Current Rent: $2,054
- Average Market Rent: $2,783
- +/- $730 in Loss-to-Lease Across All Units
- Value Add Opportunity - A New Owner Can Eliminate Loss-to-Lease by Upgrading Apartments to Modern Finishes with Minimum Investment Capital and a More Aggressive Leasing Strategy
- Opportunity to Purchase in Bulk at Below the Cost of Comparable Condo Sales in Norwalk, CT
- Low Touch, Ease of Management Through HOA
- Exceptionally Well-Maintained Apartments
- Historically High Occupancy | Prime Rental Location
- Large SF, Open Layout Apartments With Balconies
- Tenant Paid Heat and Electric
- Conveniently Located Along Route 7 Corridor on the Wilton Town Line in Close Proximity to Merritt 7 Corporate Park, BLT’s North Seven Development, and two Metro North Railroad Stations: Merrit 7 (Norwalk) and Wilton
Getting around
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Location
- City Norwalk, CT
- Neighborhood North Norwalk
- Zip Code 06851
- Market Bridgeport New Haven
Points of Interest
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Merritt 7
1.06 miles
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Wilton
2.59 miles
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Westport
3.74 miles
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East Norwalk
3.94 miles
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Cannondale
3.97 miles
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New Canaan
4.20 miles
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South Norwalk
4.45 miles
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Talmadge Hill
5.14 miles
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Rowayton
5.85 miles
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Darien
6.38 miles
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Shell
0.14 miles
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Cranbury Service Station
1.55 miles
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Mobil
3.43 miles
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Mobil Weston Service Station
3.48 miles
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Mobil
3.61 miles
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Citgo
3.88 miles
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Shell
3.89 miles
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MobiMart
4.01 miles
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Shell
4.14 miles
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Shell
4.87 miles
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Courthouse Employee Parking
2.95 miles
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Lower Jesup Green Parking Lot
3.22 miles
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Upper Library / Levitt Parking Lot
3.30 miles
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Police Parking
3.30 miles
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Handicapped Parking
3.31 miles
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Ambulance Parking
3.33 miles
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Imperial Avenue Lot
3.37 miles
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Government Vehicles Only
3.40 miles
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Westport Train Station Lot 1
3.65 miles
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Westport Train Station Lot 2
3.70 miles
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Hilton Garden Inn Norwalk
0.33 miles
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Courtyard by Marriott Norwalk
0.61 miles
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EVEN Hotel Norwalk, an IHG Hotel
1.00 miles
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Extended Stay America - Norwalk - Stamford
1.15 miles
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Hotel Zero Degrees Norwalk
1.51 miles
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Garden Park Motel
2.68 miles
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Norwalk-Westport Motel
2.75 miles
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Econo Lodge Norwalk
2.76 miles
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The Guest House at Norwalk Inn
3.03 miles
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Norwalk Inn and Conference Center
3.05 miles
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Walmart
0.06 miles
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Stop & Shop
2.27 miles
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Stew Leonard's
2.73 miles
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Whole Foods Market
2.96 miles
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Peter's Market
3.43 miles
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Trader Joe's
3.71 miles
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Nordstrom
3.76 miles
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The SoNo Collection
3.82 miles
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Bloomingdale's
3.88 miles
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Patel Brothers
4.07 miles
In-Depth Research Available for this Property
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Contact Listing Broker
Rich Edwards
Northeast Private Client Group
(203) 307-1577