105 Olivia St. Derby, CT
Summery
Opportunity to invest in a versatile mixed-use property with diverse tenant options, such as CT apartment rental applications, effectively mitigating risk and ensuring stable occupancy rates.
Located a block from the ongoing development of a 120-unit apartment complex, featuring first-floor retail on both sides of the newly formed street and directly along the Route-34 expansion project, alludes to future appreciation.
The fully leased building, strategically adjacent to the Superior Courthouse, provides ample room for significant rent growth. With a current NOI exceeding $47k, the property includes a spacious 4-bedroom, 1-bath apartment and two 1-bedroom 1-bath units, a street-level office, and a generously-sized workshop/split garage.
Partial seller financing is available, particularly beneficial for qualified buyers with a significant down payment.
Highlights:
- CDD Zoning
- Off-Street Parking
- 9% Cap Rate
- 100% Occupied
- Low Taxes
- Upside Appreciation
Consider integrating robust rental property management strategies to maximize the potential of this investment.
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