265 Washington Street, Norwich, CT 06360

• 12 beds |
• 6 baths |
• 6,013 sqft

Property Description

Fully occupied 6-unit multifamily investment opportunity offering strong in-place cash flow and substantial embedded rental upside. The property consists of four 2-bedroom units, one 3-bedroom unit, and one 1-bedroom unit, currently generating $74,400 in annual gross income with a projected stabilized income of approximately $119,400 based on market rents. At stabilization, the asset supports a projected NOI exceeding $77,000, equating to a 9.69% cap rate and a 14.79% projected return on investment. Investors will appreciate the opportunity to significantly increase revenue through lease turnover and rent normalization rather than extensive renovations. All utilities, including electric and hot water, are separately metered and paid by tenants, with ownership responsible only for heat. Additional features include off-street parking, public water and sewer, and over 6,000 square feet of living area situated on a 0.50-acre lot. A compelling opportunity to acquire a scalable multifamily asset with strong income growth potential in one of Connecticut's most active rental markets.

Listing Status:

Active

Date Added:

June 23, 2026

Data Last Updated:

June 27, 2026 at 4:50AM

Listing Office:

VC Property Group, LLC : (860) 300-3102

Listing Agent:

Anthony Velez : (860) 300-3102

MLS ID:

24186008

Interior

• Basement: Full
• A/C: Window Unit
• Heating: SteamNatural Gas
• Fireplace: Fireplaces: 0

Exterior

• Style: Other
• Parking: Parking spaces: 6

Construction

• Roofing: Asphalt Shingle

Location

• County: New London

Lot

• Driveway: Gravel
• Zoning: R402021582

Utilities

• Water: Public Water Connected
• Sewer: Public Sewer Connected