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33 photos
Additional details
$285,000
Est. payment /mo
5 Beds
3 Baths
2,904 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 2,904 sqft
Price per Sqft $98
MLS Listing ID 24158616
Style Units on different Floors
Bedrooms 5
Full Baths 3
Year Built 1890
Annual Tax Amount $3,862
Lot Size 10,454 Sqft
Property Sub-Type 3 Family
Property Description
***Highest & Best Due by Wednesday 1pm!***Attention investors and contractors! Value-add 3-family opportunity located at 119 Jefferson Avenue with strong income potential and immediate cash flow. All three units are currently occupied with month-to-month tenants, offering flexibility for rent increases or future renovations. Current rents total approximately $3,700+ per month, with upside potential once improvements are completed. Property features a solid multi-unit layout and includes a huge driveway with ample off-street parking plus a detached one-car garage-a rare and valuable feature for tenants. Property requires significant updates, including heating system installation, siding replacement, roof evaluation, and cosmetic improvements throughout. Being sold strictly as-is. Ideal for cash buyers or rehab loan financing. This is a prime opportunity to reposition an income-producing asset in New London's active multifamily market. With the right renovations, this property offers strong cash flow and long-term appreciation potential. Conveniently located near major employers, Electric Boat, shopping, dining, and local amenities. Don't miss your chance to unlock the full potential of this multi-family investment!
Location
State CT
County New London
Zoning C-1
Rooms
Basement Partial, Full, Full With Walk-Out
Interior
Heating Gravity Warm Air, Wall Unit
Cooling None
Exterior
Exterior Feature Balcony, Deck
Parking Features Detached Garage
Garage Spaces 1.0
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Sloping Lot
Foundation Stone
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools New London
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Listed by Oriel Hayer • Real Broker CT, LLC
Nearby School & Business
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