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53-57 Bank St 9 Unit Apartment Building $2,682,849 CAD ($298,094 CAD/Unit) 5.50% Cap Rate New London, CT 06320
Executive Summary
Mixed use property with 1 commercial unit and 8 apartments located in the heart of downtown New London. This 10,636 SF, 3 story building has 1 commercial 2,556 SF unit on the ground level. Formerly ‘Diamond Pizza’ the restaurant space is currently vacant and turnkey-ready with F,F&E. There are 8 apartments on the 5,112 SF second and third floors. There is a 2,556 SF basement. NOI approximately $107,329. Room to increase NOI leasing the commercial unit which had been paying $3,075 / month.
Call office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Call office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.
Property Facts
| Price | $2,682,849 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $298,094 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.50% | Building Size | 10,636 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1897 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CBD-1 - Central Business District | ||
| Price | $2,682,849 CAD |
| Price Per Unit | $298,094 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 10,636 SF |
| No. Stories | 3 |
| Year Built | 1897 |
| Opportunity Zone |
Yes |
| Zoning | CBD-1 - Central Business District |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | NLON-000028-000142-000019 | Improvements Assessment | $1,027,931 CAD |
| Land Assessment | $120,397 CAD | Total Assessment | $1,148,328 CAD |
Property Taxes
Parcel Number
NLON-000028-000142-000019
Land Assessment
$120,397 CAD
Improvements Assessment
$1,027,931 CAD
Total Assessment
$1,148,328 CAD
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53-57 Bank St
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