302 Soundview Avenue

National Multifamily is pleased to have sold 302 Soundview Avenue, a 3-unit multifamily property located in Fairfield, CT.

Property

The property contained 4,348 rentable square feet across two stories and was built in 1844.  It was situated on a 0.16-acre lot with 5 off-street parking spaces.  The property was comprised of one large 2 Bedroom & 1.5 Bath duplex townhouse, a 2 Bedroom & 1 Bath, and a 2 Bedroom & 1.5 Bath.  Two of the units had in-unit washer dryer and the third unit had access to a laundry room in the basement.  All units had central air and tenants paid for their own heat and hot water through individual systems.  Additional income at the property was generated via a tax-reimbursement from a cell tower located in the spire of the property.  The cell tower was previously sold off, but provided a reimbursement on the property taxes.

Strategy

With the property in peak physical condition and fully leased the owner had reached out to National Multifamily to execute a sale.  Matt had been advising the owners over the past year prior to marketing on how best to position the property for success.  Matt put together a strategy to position the asset and generate interest, while maintaining flexibility to act on strong early offers.

Result

Prior to officially launching the property to market, a qualified buyer submitted an all-cash, as-is offer above the asking price after reviewing the full marketing package. Matt worked closely with the buyer to structure the transaction, ensuring a smooth and accelerated process from contract through closing.  The National Multifamily team successfully executed the deal, delivering a highly efficient and certain outcome for ownership.  The results from the successful marketing and deal included:

1) The property was sold above the asking price prior to going to market

2) The transaction was completed in a true all-cash, as-is basis

3) The sale of the 3-unit multifamily correlated to a closing cap rate of 6.36%

4) The deal went from contract to closing in 20 days

The deal was completed by Matt Cawley, Olivia Friedberg, and Michael Hewes of National Multifamily.  The deal closed on March 26, 2026. Contact Matt Cawley for a full setup at closing.