Rare legal 5 family opportunity in trendy West Ave revitalized location. Two homes on one lot. #38 Merwin has two 1 bedroom units and #36 has three 2 bedroom units. All units totally renovated from A to Z in turn key condition. Fully leased with long term tenants. Nicely landscaped attractive corner lot. Separate utilities & central air plus washer and dryers facilities. Extremely low maintenance. Walk to everything, all major routes, trendy restaurants, newly opened palace theater. Pro forma capitalized at 6.5% return. Pro Forma Net Operating income - $73,203
Current Total monthly income: $7,420 / Current Total gross Income per year: $89,040
Actual Net Operating Income: $68,343
Total Expenses: per year $20,697
Interior Details
Livable Area
Total area 4,068 sq feet
Above grade 4,068 sq feet
Rooms
Bedroooms 8
Full bathrooms 5
Heating
Heating system Hot Air
Heat fuel type Natural Gas
Fuel tank location Non Applicable
Cooling
Central Air
Basement
Storage
Unfinished
Construction Details
Type and Style
Home type five+ multi-family
Architectural style
Condition
Year built 1930
New construction No/Resale
Construction Info
Construction Frame
Exterior Siding Vinyl Siding
Foundation Masonry
Roof Asphalt Shingle
Property Details
Parking and Garage
Garage spaces 0
On Street Parking
Swimming Pool
NO
Amenities
Library
Medical Facilities
Playground/Tot Lot
Public Transportation
Shopping/Mall
Association Amenities
Medical Facilities
Playground/Tot Lot
Waterfront
Beach Rights
River
Lot Details
Lot surface 0.16 acres
Description Corner Lot
Zoning D
Exterior Features
None
Utilities
Water Public Water Connected
Sewage system Public Sewer Connected
HOA and Financial Info
Current price $ 862,500
Tax amount $ 9,747
Tax year July 2017-June 2018
MLS Details
MLS ID 99185526
Listing date on 11 May 2017
Status Closed
Courtesy of William Raveis Real Estate
(c) 2020 Greater Fairfield County CMLS, Inc. All rights reserved
This town offers affordable homes, as well as luxury homes, many of which feature waterfront views. With a variety of vibrant neighborhoods, there is always something to do.
Fairfield County is one of the wealthiest communities in Connecticut. Contact Dagny's Real Estate if you are looking to buy a home in Fairfield County CT.
This home is 58% abovethe county's $ 547K avg price
