113 S. Water Street, Greenwich CT

113 S. Water Street | Greenwich | CT | 06830 Back to Properties


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Overview

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Property Details

  • Price: $ 2,065,000
  • Cap Rate: 6.26%
  • Units: 6
  • Price/Unit: $ 344,167
  • Rentable SF: 5,985 SF
  • Price/Square Foot: $ 345
  • Site Size: 0.20 AC
  • Parking: Off-Street & Garage
  • Year Built: 1919
  • Exterior: Brick & Stucco

Property Description

National Multifamily is pleased to present a 6-unit multifamily property and an adjacent 0.10-acre developable lot located in Greenwich, CT.  The properties can be purchased together or separately.  Over the past five years, all six apartments and the common areas were fully renovated, the HVAC was upgraded, and the owner completed exterior facade work.

Located in the Byram neighborhood and across the street from the Byram River, the property consists of two lots that combine for a 0.20-acre site.  The two lots both go by the address 113 S. Water Street.

Lot #1: Building (Unique ID: 04-1654/S):

Asking Price: $1,815,000.00

The building on the right-hand side is comprised of 6 units (4-two bedrooms and 2-studios) in one 3 story, brick and stucco walk-up totaling 5,985 rentable square feet and built in 1919.  The landlord pays for the heat and hot water through a central gas system.  The building has a large mechanical room on the 1st floor that holds the mechanicals themselves, individual washer and dryers for each unit, and four large storage units.  The apartments were fully updated over the past five years.  Also on this lot is a garage in the rear of the property that is currently rented to one of the tenants.  The current cap rate displayed is for the apartment building portion alone.

Lot #2: Developable Lot (Unique ID: 04-1655/S):

Asking Price: $250,000.00

The site on the left-hand side is a 0.10-acre developable lot.  Currently the lot is used for surface level off-street parking and a garden for the residents.  The lot is zoned R-6 and is ideally located with South Water Street frontage and river views.

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Financial Summary

113 S. Water Street, Greenwich CT

Investment Highlights

Price $ 2,065,000.00
Units 6
Year Built 1919
Parking Off-Street & Garage

Metrics

Price / Unit $ 344,166.67
Price / SF $ 345.03
Gross Rent Multiplier 0.00

 

Income & Expenses

Income
Potential
Current

 

Expense
Potential
Current
Total Expenses $ 0.00 $ 0.00
Net Operating Income $ 0.00 $ 0.00
Cap Rate 0.00 % est. 0.00 % est.

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.

 

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires

Totals

$ 0.00

$ 0.00

* 0 = Studio under BR

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.