$450,000
$440,000
2.3%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
3 Baths
2,128 SqFt
SOLD DATE : 06/26/2024
Key Details
Sold Price $450,000
Property Type Multi-Family
Sub Type 2 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,128 sqft
Price per Sqft $211
MLS Listing ID 24010226
Sold Date 06/26/24
Style Units are Side-by-Side
Bedrooms 5
Full Baths 2
Half Baths 1
Year Built 1997
Annual Tax Amount $5,823
Lot Size 6,098 Sqft
Property Sub-Type 2 Family
Property Description
Investing in multi-unit residential properties indeed presents a unique opportunity for portfolio diversification and wealth generation. The immediate cash flow from rental income provides a steady stream of revenue, which can be particularly attractive during periods of market volatility. Additionally, the potential for asset appreciation over time can result in significant capital gains. The varying unit sizes in a two-unit building allow for flexibility in tenant demographics, which can lead to lower vacancy rates and a broader appeal in the rental market. Strategic updates and regular maintenance not only preserve but can enhance the property's value, making it an attractive proposition for both current income and future resale. It's a tangible asset that, with proper management, can yield substantial returns while providing housing solutions-a fundamental need in any community.
Location
State CT
County New Haven
Zoning IH
Rooms
Basement Full
Interior
Heating Hot Water
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
Middle Schools Per Board Of Ed
High Schools Per Board Of Ed
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Bought with Santiago Jaraba Chacon • eRealty Advisors, Inc.
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