23 Hayward Avenue

Colchester, CT 06415

$1,350,000
Price
12
Beds
9
Baths
6,346 Sq. Ft.
$213 / Sq. Ft.
6,346
Sq. Ft.
$213
per Sq. Ft.

Description

Rarely available 9 unit multifamily on Colchester town green! Currently offered at a 7% Cap Rate with a 7.6% ROI and tremendous upside! The main building has 7 units and there is a 2 unit cottage in the rear of the property. This investment opportunity boasts a historically low vacancy rate due to increasing demand for apartment rentals in local market. Current ownership has gut-renovated each unit over the past decade, while preserving some of the historical aesthetics, such as hardwood flooring...Rarely available 9 unit multifamily on Colchester town green! Currently offered at a 7% Cap Rate with a 7.6% ROI and tremendous upside! The main building has 7 units and there is a 2 unit cottage in the rear of the property. This investment opportunity boasts a historically low vacancy rate due to increasing demand for apartment rentals in local market. Current ownership has gut-renovated each unit over the past decade, while preserving some of the historical aesthetics, such as hardwood flooring and the original cupola on top of the 3rd floor penthouse apartment. Renovations include new: electrical, plumbing, insulation, roof, sewer line, energy efficient double pane windows, flooring, drywall, fire rated steel doors, wired fire alarm system, and separately metered electric. All apartments feature separate and tenant paid electric electric baseboard heat. The unit mix is (1) efficiency, (3) 1 beds, (2) 2 beds, and a large 2 bedroom penthouse apartment, approximately 1,800 SF. There are (2) 1 bedroom units in the cottage in the rear of the property. Prime downtown location next to the Town Green where community events are held regularly. Amenities can be found all around and include: restaurants, retail shopping, grocery stores, and service businesses. Very easy and convenient access to Route 2 and Route 85. Only 25 minutes to Hartford, Norwich and New London. One of a kind property, call today to schedule a private tour!
  1. Listed by Tyler Egner • Sky Realty Group
    P: (860) 389-4223 C: (860) 389-4223 tyler.m.egner@gmail.com

Property Details for 23 Hayward Avenue

Basement Description
Full, Unfinished
Direct Waterfront
No
Garages Number
0
Neighborhood
N/A
Style
Units on different Floors
Garage Parking Info
Driveway, On Street Parking, Off Street Parking
Swimming Pool
No

Location

Listing Courtesy of Sky Realty Group, Tyler Egner
Add your commute
LISTING UPDATED: 02/27/2024 07:17 AM

Property Details for 23 Hayward Avenue

StatusActive
MLS #170545645
Days on Market488
Taxes$12,456 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / 5 Family+
Year Built1780
Lot Size0.29 AC / 12,632 SF
CountyNew London County

Location

Listing Courtesy of Sky Realty Group, Tyler Egner
Add your commute

Building Information for 23 Hayward Avenue

Stories-Residences9Year Built1780Building Size-Lot Size0.29 AC / 12,632 SF

Payment Calculator

$8,406 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,368

Property Taxes

$1,038

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 23 Hayward Avenue

Summary
Property and Location
  • Acres Source: Public Records
  • Directions: Route 85 to Hayward Ave. GPS Friendly
  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed
  • Intermediate School: Per Board of Ed
  • Latitude: 41.575756
  • Longitude: -72.331345
  • Middle Jr High School: Per Board of Ed
  • Neighborhood Amenities: Park, Public Transportation, Walk to Bus Lines
  • State: Connecticut
Parking
  • Parking Total Spaces: 9
HOA and Fees
  • Home Owner's Assocation: No
  • Tax Year: July 2023-June 2024
  • Property Tax: $12,456
Virtual Tour
  • Virtual Tour: No
Interior and Exterior Features
Exterior Features
  • Exterior Features: Gutters, Lighting, Porch
  • Waterfront Description: Not Applicable
Interior Features
  • Cooling System: Window Unit
  • Heat Type: Baseboard
  • Attic YN: No
  • Laundry Room Info: Coin Op Laundry
  • Laundry Room Location: Main Level Off Rear Entrance
  • Rooms Total: 0
Property
Property and Assessments
  • Color: White
  • Construction Description: Frame
  • Driveway Type: Paved
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Concrete, Stone
  • Fuel Tank Location: Non Applicable
  • New Construction Type: No/Resale
  • Roof: Asphalt Shingle
  • Year Built: 1780
  • Year Built Source: Public Records
  • Bank Owned Property: No
Lot Information
  • Lot Description: Level Lot, Lightly Wooded
  • Parcel Number: 2336319
  • Sq Ft Est Heated Above Grade: 6346.0
  • Sq Ft Total: 6346.0
  • Zoning: R-30
Utilities
  • Heat Fuel Type: Electric
  • Hot Water Description: Electric
  • Sewage System: Public Sewer Connected
  • Water Source: Public Water Connected
Multi Family
Income and Expenses
  • Gross Annual Expense: 46271
  • Gross Annual Income: 141135
  • Net Operating Income: $102,229
  • Occupied By: Tenant
  • Total Number of Units: 9
  • Total Rooms Multi Family: 0
Building Details
  • Unit Count: 1
Unit 1
  • Listing Key: F2A415A885B77BB3E0531401100A49FD
  • Unit Entry Order: 1
  • Unit Full Baths: 9
  • Unit Modified Date: 01-19-2023
  • Unit Num Bedrms: 12
  • Unit Occupied By: Tenant

Property History for 23 Hayward Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 23 Hayward Avenue

Taxable ValueLand$59,600Additions$398,000Total$457,600
Tax Record2023$12,456 ($1,038 / month)
Home Facts
Lot Size12,632 SqFtStyleMulti-Family Res (5+ Units)CountyNEW LONDONAPNCOLC M:016 B:000 L:046-000

Schools near 23 Hayward Avenue

This home is within Colchester School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - 3 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Colchester Elementary School
PublicPK to 2

Jack Jackter Intermediate School
Public3 to 5

William J. Johnston Middle School
Public6 to 8

Bacon Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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23 Hayward Avenue is a multi-family home for sale in Colchester, CT 06415. This property was listed for sale on January 19, 2023 by Sky Realty Group, it's currently listed at $1,350,000. It has been on the market for a total of 488 days and was last sold on May 30, 2006. This listing's school district is Colchester School District. Nearby schools include Colchester Elementary School, Jack Jackter Intermediate School and William J. Johnston Middle School. 23 Hayward Avenue is a 12-bed, 9-bath, 6,346 sqft multi-family home built in 1780.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Sky Realty Group, Tyler Egner

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.