202 Broadway, Norwich, CT 06360
Local realty services provided by:ERA Key Realty Services
202 Broadway,Norwich, CT 06360
$1,575,000
- 16 Beds
- - Baths
- 3,861 sq. ft.
- Multi-family
- Active
Listed by: anthony velez, connor wenchell(860) 343-7800
Office: vc property group, llc(860) 300-3102
MLS#:24194779
Source:CT
Price summary
- Price:$1,575,000
- Price per sq. ft.:$407.93
About this home
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....
Contact an agent
Home facts
- Year built:1843
- Listing ID #:24194779
- Added:41 day(s) ago
- Updated:September 17, 2026 at 11:34 AM
Rooms and interior
- Bedrooms:16
- Rooms Total:42
- Basement Description:Full Basement
- Living area:3,861 sq. ft.
Heating and cooling
- Heating:Steam
Structure and exterior
- Roof:Asphalt Shingle
- Year built:1843
- Building area:3,861 sq. ft.
- Lot area:0.76 Acres
- Architectural Style:Units are Side-by-Side
- Construction Materials:Vinyl Siding
Schools
- High school:Per Board of Ed
- Elementary school:Per Board of Ed
Utilities
- Water:Public Water Connected
- Sewer:Public Sewer Connected
Finances and disclosures
- Price:$1,575,000
- Price per sq. ft.:$407.93
- Tax amount:$9,029 (July 2026-June 2027)
Parking
- Total parking spaces:14
- Parking description:Off Street Parking
New listings near 202 Broadway
- Coming SoonOpen Fri, 4 to 6pm
$349,000Coming Soon3 beds 2 baths1,904 sq. ft.363 Scotland Road, Norwich, CT 06360
MLS# 24207539Listed by: RE/MAX on the Bay - New
$249,900Active2 beds 1 baths768 sq. ft.42 Lambert Drive, Norwich, CT 06360
MLS# 24207669Listed by: RE/MAX Bell Park Realty - New
$480,000Active4 beds 2 baths1,944 sq. ft.63 Wawecus Hill Road, Norwich, CT 06360
MLS# 24207069Listed by: Roundtree Realty LLC - New
$219,900Active4 beds 2 baths1,857 sq. ft.445 East Main Street, Norwich, CT 06360
MLS# 24203252Listed by: Madison Realty New York - Open Mon, 12 to 2pmNew
$289,000Active2 beds 1 baths1,245 sq. ft.15 Joseph Perkins Road, Norwich, CT 06360
MLS# 24207585Listed by: Social & Co Realty - New
$430,000Active6 beds 4 baths3,528 sq. ft.126 Prospect Street, Norwich, CT 06360
MLS# 24206603Listed by: CENTURY 21 Shutters & Sails - New
$310,000Active2 beds 1 baths960 sq. ft.36 Jennings Street, Norwich, CT 06360
MLS# 24207030Listed by: List N Show LLC - New
$229,900Active4 beds 3 baths2,548 sq. ft.437 East Main Street, Norwich, CT 06360
MLS# 24207208Listed by: On The Move Realty, LLC - New
$360,000Active3 beds 2 baths1,341 sq. ft.9 Daniel Street, Norwich, CT 06360
MLS# 24207232Listed by: Castles Condos & Cottages, LLC
$299,900Pending3 beds 2 baths2,738 sq. ft.114 Yantic Lane, Norwich, CT 06360
MLS# 24207228Listed by: Aspen Realty Group