291 Main StTorrington, CT 06790

Property Details for 291 Main St

Lot size

0.41 AC

Zone code

R6

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

TORR M:116 B:022 L:021

APU

TORRM116B022L021

Description

This exceptional six-unit apartment building, located at 291 E Main St, Torrington, CT, presents a compelling investment opportunity. The property, situated on a 0.14-acre lot (APN 893114), boasts a total of 4,431 square feet and comprises two spacious two-bedroom units and four well-appointed one-bedroom units. Built in 1920, the building has undergone significant upgrades, including a new roof (2013), updated windows throughout, and the installation of newer, high-efficiency gas boilers and water heaters, minimizing future maintenance expenses. The property is zoned LB and benefits from its prime location near major highways and the thriving downtown Torrington area, offering residents convenient access to a wide array of shopping, dining, and entertainment options. Nearby attractions such as the Warner Theatre, local museums, Coe Memorial Park, and Burr Pond State Park further enhance the property's appeal to tenants. Currently achieving a 7.3% cap rate, the property's potential for growth is significant, with projections indicating a possible 9.2% cap rate with conservative rental increases, reflecting the strong and growing Torrington rental market (projected 4.5% growth by early 2025). This turnkey investment offers a rare blend of immediate income generation and substantial long-term appreciation potential. The property's strong tenant base and recent upgrades make it an ideal addition to any investment portfolio.

Location Insight

City

Torrington

County

Litchfield

State

Connecticut

Latitude

41.7945

Longitude

-73.12

CBSA code

45860

CBSA name

TORRINGTON, CT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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