229 Highway 163

Montville, CT 06382

$490,000
Last Sold Price
8
Beds
4
Baths
2,938 Sq. Ft.
$167 / Sq. Ft.
2,938
Sq. Ft.
$167
per Sq. Ft.

Description

This multifamily gem is ready to seamlessly integrate into your portfolio and start generating income immediately! Each unit has been recently renovated, and the property features new siding, an updated common laundry area, and fresh decking throughout. Currently, all units are occupied by highly qualified tenants with an impeccable rental history, and tenants cover their own utilities. Landlords are responsible for trash, sewer, and common area electricity. With the potential for rent increases...This multifamily gem is ready to seamlessly integrate into your portfolio and start generating income immediately! Each unit has been recently renovated, and the property features new siding, an updated common laundry area, and fresh decking throughout. Currently, all units are occupied by highly qualified tenants with an impeccable rental history, and tenants cover their own utilities. Landlords are responsible for trash, sewer, and common area electricity. With the potential for rent increases and the added advantage of being zoned for 4-8 units, there are exciting possibilities for future expansion. This opportunity is primed to enhance your investment portfolio with minimal immediate hassle!
  1. Listed by Madelyn Pope • RE/MAX ONE
    P: (860)-857-0850 C: (860)-857-0850 maddypopere@gmail.com

Property Details for 229 Highway 163

Basement Description
Full
Direct Waterfront
No
Neighborhood
N/A
Style
Units on different Floors
Garage Parking Info
None
Swimming Pool
No
LISTING UPDATED: 12/12/2024 02:14 PM

Property Details for 229 Highway 163

StatusClosed
MLS #24046959
Days on Market43
Taxes$4,380 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / 4 Family
Year Built1920
Lot Size1.46 AC / 63,597 SF
CountyNew London County

Building Information for 229 Highway 163

Stories-Residences4Year Built1920Building Size-Lot Size1.46 AC / 63,597 SF

Property Information for 229 Highway 163

Summary
Property and Location
  • Acres Source: Public Records
  • Directions: GPS Friendly
  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed
  • Latitude: 41.447082
  • Longitude: -72.124856
  • State: Connecticut
HOA and Fees
  • Home Owner's Assocation: No
  • Tax Year: July 2024-June 2025
  • Property Tax: $4,380
Interior and Exterior Features
Exterior Features
  • Waterfront Description: Not Applicable
Interior Features
  • Cooling System: None
  • Heat Type: Baseboard
  • Attic YN: No
  • Fireplaces Total: 0
  • Laundry Room Info: Common Laundry Area
  • Laundry Room Location: 2nd floor, off staircase
  • Rooms Total: 16
Property
Property and Assessments
  • Construction Description: Frame
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Block, Stone
  • New Construction Type: No/Resale
  • Roof: Asphalt Shingle
  • Year Built: 1920
  • Year Built Source: Public Records
  • Bank Owned Property: No
  • Living Area SQFT Per Public Records: 2938
Lot Information
  • Lot Description: Lightly Wooded, Sloping Lot
  • Parcel Number: 1806512
  • Sq Ft Est Heated Above Grade: 2938.0
  • Sq Ft Total: 2938.0
  • Zoning: R20
Utilities
  • Heat Fuel Type: Electric
  • Hot Water Description: Electric, Tank Size Unknown
  • Radon Mitigation Air: Unknown
  • Radon Mitigation Water: Unknown
  • Sewage System: Public Sewer Connected
  • Water Source: Private Well
Multi Family
Income and Expenses
  • Gross Annual Expense: 9600
  • Gross Annual Income: 67560
  • Net Operating Income: $57,960
  • Occupied By: Tenant
  • Total Number of Units: 4
  • Total Rooms Multi Family: 16
Unit 1
  • Lease: Leased
  • Lease Expires: 08-31-2025
  • Listing Key: 222E5D723D184693E063D501100A18EA
  • Unit Entry Order: 4
  • Unit Full Baths: 1
  • Unit Modified Date: 11-08-2024
  • Unit Monthly Rent: $1,250
  • Unit Num Bedrms: 2
  • Unit Num Rooms: 4
  • Unit Occupied By: Tenant
Unit 2
  • Lease: Leased
  • Lease Expires: 08-31-2025
  • Listing Key: 222E5D723D184693E063D501100A18EA
  • Unit Entry Order: 2
  • Unit Full Baths: 1
  • Unit Modified Date: 11-08-2024
  • Unit Monthly Rent: $1,400
  • Unit Num Bedrms: 2
  • Unit Num Rooms: 4
  • Unit Occupied By: Tenant
Unit 3
  • Lease: Leased
  • Listing Key: 222E5D723D184693E063D501100A18EA
  • Unit Entry Order: 3
  • Unit Full Baths: 1
  • Unit Modified Date: 11-08-2024
  • Unit Monthly Rent: $1,545
  • Unit Num Bedrms: 2
  • Unit Num Rooms: 4
  • Unit Occupied By: Tenant
Unit 4
  • Lease: Leased
  • Lease Expires: 05-31-2025
  • Listing Key: 222E5D723D184693E063D501100A18EA
  • Unit Entry Order: 1
  • Unit Full Baths: 1
  • Unit Modified Date: 11-08-2024
  • Unit Monthly Rent: $1,480
  • Unit Num Bedrms: 2
  • Unit Num Rooms: 4
  • Unit Occupied By: Tenant

Public Records for 229 Highway 163

Taxable ValueLand$31,710Additions$126,000Total$157,710
Tax Record2023$4,380 ($365 / month)
Home Facts
Baths4Total Finished SqFt2,938 SqFtAbove Grade Finished SqFt2,938 SqFtUnfinished Basement SqFt1,539 SqFtStories2Lot Size63,598 SqFtStyleMulti-Family Dwelling (2-4)Year Built1920Year Renovated1970ZoningR20CountyNEW LONDONAPNMONT M:078 B:027 L:000

Schools near 229 Highway 163

This home is within Montville School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Mohegan School
PublicK to 5

Leonard J. Tyl Middle School
Public6 to 8

Montville High School
Public9 to 12

Palmer 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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. Offers of compensation are subject to change at the discretion of the seller. 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 RE/MAX ONE, Madelyn Pope

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.