155 Gilbert AveWinsted, CT 06098
- Residential income homes
Property Details for 155 Gilbert Ave
- Year built
- 1900
- Property type
- Residential income homes
Description
This exceptional 8-unit multifamily property, located at 155 Gilbert Ave in Winsted, Connecticut, presents a compelling investment opportunity. Built in 1900, this Class B property boasts a strong current NOI of $64,765 and a pro-forma NOI of $78,619, translating to a 7.80% cap rate at an asking price of $899,900. Five of the eight units benefit from a state subsidy program, guaranteeing consistent monthly income. The property is conveniently situated within walking distance of downtown Winsted and Northwestern Community College, ensuring high occupancy rates. Recent upgrades include unit renovations, complete plumbing and sewer line replacement, a new roof, updated windows and gutters, foundation repointing, and numerous mechanical system replacements. A spacious basement offers potential for additional income through the installation of coin-operated laundry facilities (currently non-operational but functional). Ample off-street parking is available for tenants. Historically operating at 100% occupancy, this well-maintained property promises a low-maintenance, high-cash-flow investment for years to come. The property consists of one building and offers significant value-add potential.
Location Insight
- City
- Winsted
- County
- Litchfield
- State
- Connecticut
- Latitude
- 41.925
- Longitude
- -73.0577
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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