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Corning Hollow, Norwich, CT 06360

Commercial / 2 Bedroom(s) / 2.5 Bath(s)

Property Status:  Not Available | $100,000.00 (Wholesale)

Property Photos
Corning Hollow (Image - No Photo)

36unit-Estimated NOI $447k and Market Value $6.8M @ stabilized 6.5% cap rate end of year 1 - assume rents $1550 however market rents up to $1875

Property Status:
This Property is currently...
  • Status:  Not Available | $100,000.00 (Wholesale)
Property Details:
Commercial / 2 BR / 2.5 BA
Property Style:
5+ Units
Year Built:
2020
Finished Sq Ft:
60,000
Basement:
No Basement
Owner / Agent:
Wholesale
Property Features:
No Property Features Listed.
Contact Info
IBA Realty Capital
(203) 554-5962

View on Individual's Website
Property Description:

Refi w/ simsmortgage.com/ 40yr FHA 223f loan at 2.5%. Opportunity Zone “High Density, Multi-Family Residential” - Conveniently located off of State Highway RT, has access to Public Transportation, Foxwoods (8 miles) and Mohegan Sun (6miles). 4housing shortage trends- Southeast CT Council of Govts 1) continued decline in avg household size as baby boomers age into retirement 2) Concern that anticipated hiring by General Dynamics Electric Boat will further exacerbate housing shortages - expansion will require hire up to 14k more workers over the next 6 years- 15m from Electric Boat.

Please contact me for PPM and additional details.


Legal Disclaimer:
This is a Wholesale Deal. The investor is not selling the property for the seller. The investor is a principal party in a valid and assignable purchase agreement which allows the investor to purchase the subject property from the seller. This purchase agreement is being offered for sale for an assignment fee to a 3rd party granting that party the opportunity to execute the purchase agreement to buy this home. The investor has the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as investor choses in order to find a prospective buyer to assign this contract to for an assignment fee. Real Estate Promo is not responsible nor will be held liable for the property or the information listed here.

Real Estate Promo is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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