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$ 985,000
Est. payment /mo
Active
163-165 Main Street Deep River, CT 06417
3 Beds
2 Baths
4,184 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 4,184 sqft
Price per Sqft $235
MLS Listing ID 24077841
Style Units on different Floors,Other
Bedrooms 3
Full Baths 2
Year Built 1850
Annual Tax Amount $10,394
Lot Size 3,049 Sqft
Property Sub-Type 5 Family+
Property Description
EXCITING NEWS, ARV has increased to $1.7 MILLION!!! We met with the town's building inspector and fire marshal for an on-site assessment, and they have expressed interest in seeing the 3rd Floor "Penthouse" get developed into rentable living space. The town needs about 30 days from application and submission of site plans to review the addition for approval. Pre-existing zoning regulations have been adjusted allowing the semi-finished third floor to be converted into a livable penthouse suite, and these revisions took effect on April 17, 2025. What's so great about this, is that we can now broker bridge financing that cuts the required down payment in HALF, for a total estimated Cash to Close of $230k. The beautiful new Penthouse suite will generate an additional $3,750 per month in rental income, pushing the ARV to $1.7 MILLION. This is a once in a life-time opportunity to purchase a Class B asset with very little down and potentially TAKE ALL OF YOUR CASH OUT OF THE DEAL upon closing the back end refinance, not to mention the 19% yearly return. DO NOT MISS OUT ON THIS EXTRAORDINARY OPPORTUNITY.
Location
State CT
County Middlesex
Zoning VCD
Rooms
Basement Full, Interior Access, Full With Hatchway
Interior
Heating Hot Air
Cooling Window Unit
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot, Level Lot, Historic District
Foundation Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Deep River
High Schools Per Board Of Ed
Listed by Connor Wenchell • VC Property Group, LLC
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