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13 Portland Street

Middletown, CT 06457

  • $1,300,000
  • 6/2 Baths
  • 9,890 Sqft
  • 0.26 Acres
  • 1900 Built
  • $131 Price/Sqft

Exceptional mixed-use investment opportunity in Middletown, with views of CT River and landmark Arrigoni Bridge. Offering strong in-place cash flow with immediate upside potential. Features six fully occupied residential apartments (2-1bds, 2-2bds, 2-3bds) plus two 1, 600 square foot commercial garage/workshop spaces, creating strong stability. One commercial garage is currently leased, while the second vacant garage presents a compelling opportunity for an owner-user or investor seeking additional income. If you're a contractor, workshop operator, have storage needs, or small business owner, the vacant commercial space (currently listed for rent) allows a buyer to occupy the space while offsetting ownership costs through the residential income stream. The residential apartments have been updated over time, have newer boilers/water heaters and offer a strong unit mix of one-, two-, and three-bedroom layouts with broad tenant appeal. Property features off-street parking, and excellent access to Route 9, downtown Middletown, shopping, restaurants, and commuter routes. * 8 total income-producing spaces * 6 fully leased residential apartments * 2 commercial garage/workshop units * One leased commercial space + one vacant 1, 600 SF commercial unit * Owner-user opportunity (act soon before rented) * Minutes from Route 9 * Walk to downtown and Wesleyan - This is a rare, stable cash flow, turnkey opportunity!!!! Property to be conveyed in as-is condition.

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Property Highlights
  • Sacha Armstrong-Crockett

    Sacha Armstrong-Crockett

    Realtor
    M
    View My Profile

Additional Information

ADDITIONAL INFORMATION
  • ACRES: 0.26
  • AREA TYPE: Highway Access, Downtown
  • GROSS EXPENSES: 35590
  • GROSS INCOME: 142440
  • IS OCCUPIED?: Tenant
  • LIVING AREA SQFT: 9,890
  • PRESENT USE: apartments and workshop
  • PROPERTY TAX: $13,932
  • ROAD FRONTAGE DESCRIPTION: Municipal Street
  • SEWER: Public Sewer Connected
  • TAX AMOUNT: $13,932
  • UNIT COUNT: 6
  • UTILITIES AVAILABLE: Electric, Gas
  • YEAR BUILT: 1900
  • ZONING: MXI
INTERIOR FEATURES
  • AIR CONDITIONING: Window Unit
  • COOLING: Window Unit
  • FLOORING: Vinyl, Wood
  • FULL BATHS: 6
  • HALF BATHS: 2
  • HEAT: Gas on Gas, Other
  • LIVING SQFT SOURCE: Public Records
  • TOTAL BATHS: 8
EXTERIOR FEATURES
  • ROOF: Asphalt Shingle, Metal

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Request More Info for 13 Portland Street, Middletown, CT

  • Sacha Armstrong-Crockett

    Sacha Armstrong-Crockett

    Realtor
    M
    View My Profile

Listing Courtesy of Sacha Armstrong of ((860) 538-7778)William Pitt Sotheby's International Realty (860.682.9991).

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