Property Description
National Multifamily is pleased to present 48-52 Smith Street, a 5-unit multifamily property located in Derby, CT. The units at the property are oversized and are comprised of a three bedroom duplex, 2-two bedrooms, and 2-one bedrooms totaling 4,010 rentable square feet across the two onsite buildings. The larger of the two onsite buildings contains four units, was built in 1912, and tenants pay for their own heat and hot water through individual gas systems. The smaller of the two onsite buildings contains 1-one bedroom unit, was built in 1950, and the tenant pays for their own heat and hot water through an individual electric system.
Currently two of the five units are owner-occupied (Unit 1F and 2F). The owner has confirmed they will lease back those units if a buyer is interested at the rates in the rent roll (see page 8). Of the three remaining units, two (Unit 1R and 2R) are month to month and are 65% below market and the other (Unit 52) is on a one-year lease through August 31st.
