13-15 Portland St, Middletown, CT 06457
- $1,300,000
- 12
- BD
- 8
- BA
- 9,890
- SqFt
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 24178851
- Year Built
- 1900
- Bedrooms
- 12
- Bathrooms
- 8
- Acres
- 0.26
- Living Area
- 9,890
- Neighborhood
- N/A
Property Description
Unique mixed-use opportunity in Middletown offering strong cash flow and flexible ownership potential. Property consists of a fully occupied 4-family, a fully occupied 2-family, and two 1,600 SF commercial garage/workshop spaces all situated on one lot with views of the Connecticut River and Arrigoni Bridge. One commercial space is leased, while the second vacant garage offers ideal owner-user potential for contractors, storage, workshop space, or additional rental income. Projected 8.2% cap at current occupancy, with stabilization potential of approximately 9.4-9.8% upon lease of the 2nd garage. Residential units feature a desirable mix of 1-, 2-, and 3-bedroom layouts with updates completed over time, including newer boilers and water heaters. Off-street parking, minutes to Route 9, downtown Middletown, and walking distance to Wesleyan University. Property conveyed as-is.
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Additional Information
- Taxes
- $13,932
- Lot Size
- 11,325
- Heating
- Natural Gas
- Cooling System Type
- Window/Wall
- Water Source
- Public
- Basement
- Full
- Garage Spaces
- 2
- Parking Spaces
- 10
- Elementary School
- Per Board of Ed
- High School
- Per Board of Ed
Mortgage Calculator
Listing courtesy of Sacha Armstrong from William Pitt Sotheby's International Realty. (860) 538-7778 (860) 682-9991
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