82 Maple Ave, New London, CT 06320

Description

Excellent value-add opportunity at 80-82 Maple Avenue, New London. This 12-unit apartment building is already well into a substantial renovation program. Eight units are renovated and/or in good condition, one unit is currently being renovated, and three units are gutted or under construction, providing an investor with clear upside through completion of the remaining renovations and further stabilization of the property. Built in 1925, the property offers approximately 8,732 SF of building area / 10,555 SF gross area on approximately 0.34 acres (14,810 SF). Features include two stories, a 2,877 SF basement, gas-fired hot-water heat, asphalt-shingle mansard roof, shingle exterior and open porch. Public records identify the property as a 12-unit apartment building. Excellent New London location near the Thames River waterfront, downtown New London, Waterfront Park, Cross Sound Ferry and the city's intermodal transportation center, providing access to ferry, rail and bus transportation. New London's waterfront and downtown offer restaurants, entertainment, arts, recreation and waterfront activities, while nearby conveniences include Lawrence + Memorial Hospital, shopping, grocery stores and major roadways. The property also has a reported Walk Score of 92. Ideal for investors seeking a partially renovated multifamily asset with significant improvements already completed and additional value-add potential through completion of the remaining units. Property, unit conditi