USACTNorwichN/a202 Broadway
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$1,695,000

For Sale

11 days ago

202 Broadway, Norwich, CT

House

MLS® 24194779

16 Bed

0 Bath

3861 sqft

14 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 3861 sqft
Garage 
Taxes $9,029
Days Active 11
Lot Size 0.76 Acres
Approx. Age 1843
Avg. Price Per Sqft $439
MLS® Number 24194779

Property Address: 202 Broadway, Norwich, CT, 06360-4323

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

Description

Rare opportunity to acquire a 14-unit multifamily portfolio consisting of two nearby 7-unit properties located at 202 Broadway and 7-9 Broad Street in Norwich, Connecticut. Offering immediate scale, diversified unit mix, and significant rental upside, this package is ideal for investors seeking a larger multifamily acquisition with strong in-place cash flow and a clear path to value creation. The portfolio consists of a mix of 2-bedroom, 1-bedroom, and studio apartments that appeal to a broad tenant base while providing diversification across unit types. Both properties are fully occupied and benefit from off-street parking, public utilities, and strong occupancy history. Located in one of New London County's most sought-after residential neighborhoods, the portfolio benefits from strong tenant demand, attractive surrounding housing stock, and convenient access to downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation corridors. Current gross annual income of approximately $217k is significantly below market, with projected stabilized income of approximately $270k, representing over $53k in additional annual revenue through rent stabilization and operational optimization. The portfolio is projected to achieve a 9.8% stabilized cap rate and 15% stabilized ROI, creating a compelling investment profile for both private and institutional investors.
MLS® Number24194779
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1843
BasementFull
DrivewayOff Street Parking
Garage Spaces
HeatElectric, Natural Gas, Oil, Propane, Steam
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 6, 2026List Date
$1,695,000List Price
-End Date
Not Sold YetSold Price

For Sale

Jun 5, 2026List Date
$895,000List Price
  • Commute

Commute

Starting Address
Destination Address
202 Broadway, Norwich, CT

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