105 Olivia Street, Derby, Connecticut 06418

$400,000
5
BD
5
BA
3,402
SqFt
List Price
$400,000
Status
ACTIVE
MLS#
170452533
Year Built
1885
Style
Units on different Floors, Units are Side-by-Side
Bedrooms
5
Bathrooms
5
Acres
0.12
Living Area
3,402
Neighborhood
Downtown

Property Description

8% Cap Rate Day 1 With 10.6% Cap Projections! Versatile Investment Property in Derby! Centrally located in the downtown area, this 4 unit property offers investors the opportunity to expand a growing portfolio with three apartments and one retail office space. Situated next to the Derby Superior Courthouse, the office space is ideally suited for attorneys, real estate firms, or an array of other professionals. The office space may be subdivided into two separate spaces, each containing a private entry and a dedicated restroom. Two of the 2BR/1BA apartments offer tenants an abundantly comfortable living experience with a sizeable living room, tons of natural light, generously sized bedrooms, and a fully equipped kitchen featuring ample cabinetry, while one 1BR/1BA unit provides lovely accommodations with an eat-in kitchen, a full bath, and a large bedroom. Currently nestled on a 0.12-acre lot in CCD Zoning, the property is in a prime location which is benefiting from carefully planned revitalization. With plans to widen Downtown Derby Main Street and to encourage trendy retail establishments, this multiunit property is an excellent investment for present-day cashflow and future possibilities. 2-car garage w/extra parking, street parking, partial brick exterior, updated mechanicals, fire suppression system, alarm system, storm cellar, only steps from shopping, dining, Griffin Hospital, Aldi, and schools, and more!

Additional Information

Taxes
$4,991
Lot Size
5,227
Waterfront Desc
Not Applicable
Heating
Baseboard, Gas on Gas
Fuel Type
Natural Gas, Oil
Cooling System Type
Ceiling Fans, Wall Unit
Sewer
Public Sewer Connected
Water Source
Public Water Connected
Basement
Full, Crawl Space, Concrete Floor
Exterior
Vinyl Siding, Brick
Exterior Features
Balcony, Covered Deck, Lighting, Porch, Porch-Enclosed, Porch-Screened, Sidewalk
Garage Spaces
2
Elementary School
Per Board Of Ed
High School
Per Board Of Ed

Mortgage Calculator

Amount of Loan
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Christopher Reid from eXp Realty

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