New

$1,975,000

7 days ago

15 Platt Ave, Norwich, CT

Name: 15 Platt Ave, For Sale in Norwich - eXp Realty
Brand: VC Property Group, LLC
SKU: 24154214
Price: 1975000 USD

6 Bed

3 Bath

2453 sqft

MLS® 24154214

Key Facts
Description
Map

Key Facts

Type Triplex

Levels Residential Income

Size 2453 sqft

Garage No

Taxes $6,309

Days Active 7

Lot Size 0.29 acres

Approx. Age 1890

Avg. Price Per Sqft $805

MLS® Number 24154214

Property Address: 15 Platt Ave, Norwich, CT, 06360-3673

Average square foot calculated using Size range provided by listing agent.

Description

Motivated Seller!! Offered at $1, 975, 000 - Bottom Line - this stabilized multifamily portfolio consists of 18 units across 5 buildings, plus a multifamily infill redevelopment opportunity that provides significant upside beyond the current in-place 9% ROI. The portfolio includes: 681 N Main Street (4 units) 20 North A Street (4 units) 37 South B Street (3 units) 102 Boswell Avenue (5 units) 72 North Main Street (2 units) 15 Platt Avenue - Multifamily Redevelopment Opportunity (Former 3-Family) The income-producing assets are approximately 90% of pro forma, offering investors strong day-one cash flow with limited operational lift. Remaining upside is achievable through modest rent optimization and continued professional management. Upon full stabilization, the portfolio is projected to generate an estimated 14% fully burdened ROI, not accounting for the resale or redevelopment of the multifamily lot., 15 Platt Avenue remains improved with an existing structure (Fire Damaged - Complete Loss) and is zoned for multifamily use. Build cost is estimated at ~$400k or $140psf, with an ARV of $650k. Presenting an opportunity to add significant rental income to the portfolio, or simply CASH-OUT on the sale of a New Construction multifamily. Additionally, the existing structure presents the potential for material cost savings through reuse of the existing foundation and site infrastructure, subject to buyer due diligence, which may further enhance project economics. Operating expenses across the portfolio are favorable, with tenants responsible for electric, heat, and hot water at all properties, with the sole exception of 102 Boswell Avenue, where the landlord covers heat and hot water. The assets feature a mix of on-street and off-street parking, supporting durable tenant demand. This offering is well suited for investors seeking a largely stabilized multifamily portfolio with predictable cash flow, limited operational risk, and embedded development upside-a rare combination at this price point.

MLS® Number24154214

Laundry Level

Central VacNo

FireplaceNo

Acreage0.29

Exterior

GarageNo

Approx. Age1890

BasementFull

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Feb 13, 2026List Date

$1,975,000List Price

Commute

Commute

Starting Address

Destination Address

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