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$549,900

Beds
3
Baths
2.0
sq ft
1,600

172 Middle Tpke W, Manchester, CT 06040

172 Middle Tpke W

Manchester, CT 06040

  • 78 days on market
Investment opportunity ! This property has two buildings located in a high traffic area with great convenient access. Both buildings have been renovated and are currently leased, providing a reliable return on investment of 10% or more. The properties consist of retail, commercial, and residential spaces, catering to a diverse range of tenants and ensuring a steady income stream. Additionally, the corner lot location offers excellent visibility and accessibility, further enhancing the appeal of this investment. One of the key advantages of these buildings is the presence of a bus stop on the corner, making it a highly desirable location for both tenants and customers. With leases already in place, investors can benefit from immediate cash flow and the security of long-term tenancy agreements. This stability, combined with the potential for future rental growth, makes these buildings an attractive proposition for those seeking a reliable and lucrative investment opportunity. We invite you to explore this opportunity further and discover the potential for substantial returns in a prime location. Property is comprised of (2) Buildings: 1. 172-174 Middle Tpke West Manchester (1) Retail Store and (1) 2 Bedroom Apartment 2. 10 Essex Street (1) 1 Bedroom remodeled Apartment, (1) Retail Store and (1) Commercial Shop (HVAC Contractor) Property also listed as MLS 24041966

Details

Property type

Lot size

7,841 sq ft

Price per sq ft

$344

Year built

1900

Annual property taxes

$5,419

Price History

10/25/2024
SmartMLS

SmartMLS #24044312

Price change
$549,900
+3.77%
09/10/2024
SmartMLS

SmartMLS #24044312

Pending
$529,900
09/04/2024
SmartMLS

SmartMLS #24044312

Listed
$529,900
+189.56%

Schools & Community

Neighborhood: 

Central Manchester

Elementary school: 

Per Board of Ed

Middle school: 

Unknown

High school: 

Per Board of Ed

Number of units in community: 

2

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

John Kibarian

Loan start date

March 2021

Original loan amount

$240,000

Est. remaining balance

Not provided

Interest rate

2.73%

Loan type

Purchase Money Mortgage, 1 year

Seller

Leonardn J Factor

Lender

John Kibarian

Loan start date

March 2021

Original loan amount

$240,000

Est. remaining balance

Not provided

Interest rate

2.73%

Loan type

Purchase Money Mortgage, 1 year

Seller

Leonardn J Factor

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 4:45 AM

Listing updated: 10/25/2024 at 2:22 PM

Listed by: Harry Finer, William Raveis Real Estate Phone #: (860) 882-4911

MLS: SmartMLS #24044312

SmartMLS logo

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