37-39 South B Street, Norwich, CT 06380

• 6 beds |
• 3 baths |
• 2,318 sqft

Property 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

Listing Status:

Active

Date Added:

March 24, 2026

Data Last Updated:

March 29, 2026 at 12:51AM

Listing Office:

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

Listing Agent:

Anthony Velez : (860) 300-3102

MLS ID:

24161969

Interior

• Basement: Full
• A/C: None
• Heating: Hot WaterElectric
• Fireplace: Fireplaces: 0

Exterior

• Style: Units are Side-by-Side

Construction

• Roofing: Asphalt Shingle

Location

• County: New London

Lot

• Zoning: R202030454

Utilities

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