$1,695,000

202 Broadway, Norwich, CT 06360

  • 16 beds
  • 3,861 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1843
  • Property Lot Size Icon0.76acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $439/sqft
  • Property List Date Icon Listed 4 days ago

Property Description

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong tenant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.

Listing Status:
Active
Date Added:
August 6, 2026
Data Last Updated:
August 11, 2026 at 4:50AM
Listing Office:
VC Property Group, LLC : (860) 300-3102
Listing Agent:
Anthony Velez : (860) 300-3102
MLS ID:
24194779
  • Basement: Full
  • A/C: None
  • Heating: SteamElectricNatural GasOilPropane
  • Fireplace: Fireplaces: 2
  • Style: Units on different FloorsUnits are Side-by-Side
  • Parking: Parking spaces: 14
  • Roofing: Asphalt Shingle
  • County: New London
  • Zoning: MF2411992
  • Water: Public Water Connected
  • Sewer: Public Sewer Connected

This listing courtesy of Anthony Velez , VC Property Group, LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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