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202 Broadway

Norwich, CT 06360

$895,000 $3,773/Mo

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Overview

Bed

Bath

3,861

Sqft

0.76

Acre(Lot)

Description

VC Property Group is proud to present 202 Broadway, a 7-unit multifamily asset located in one of Norwich's most desirable rental corridors-directly across from the iconic Cathedral of St. Patrick. Positioned in one of Connecticut's highest-yielding and fastest-moving rental markets, the property combines strong in-place cash flow with substantial upside through strategic lease-up. The current rent roll reflects opportunity for significant value creation, with pro forma rents driving a projected NOI of ~$88K and a 14% cash on cash return, offering investors immediate scale with clear value creation. The asset benefits from 100% occupancy, off-street parking, and a highly desired LOCATION. The units are in above-market condition, allowing for immediate rent growth without the need for signif icant capital improvements. This is a true Day 1 cash-flowing asset with no major CapEx required-an increasingly rare profile in today's market where most value-add opportunities require heavy renovation risk. Strategically located just 15 minutes from New London, the property is directly positioned to benefit from the ongoing economic expansion driven by Electric Boat's multi-year contract pipeline, actively bringing in thousands of new jobs to the region. This macro tailwind continues to fuel rental demand across Eastern Connecticut, particularly in supply-constrained, workforce-driven housing markets like Norwich.

Property Details

Property Type : Residential Income

Price : $895,000

AD Id : 80303336

MLS Id : 24181437

Beds : 8

Lot Size : 0.76 Acre

Living Area Size : 3,861

Year Built : 1843

County : New London

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 8

Bathroom Information

Total Baths: 7 Full Baths: 7

Room Information

Rooms Total: 22 Has Basement: Yes Basement: Full
Roofing Information

Asphalt
Interior Features

Roof: Asphalt
Heating & Cooling

Has Heating: Yes Heating: Propane, Steam Cooling: None

Building Information

Year Built: 1843 Building Area Total: 3861 Construction Materials: Vinyl Siding, Frame Private Pool: No

Lot Information

Lot Size Acres: 0.76 Lot Description: Level

Listing Price Information

Listing Price: $895000

Tax Information

Parcel Number: 2411992 Annual Tax: $10700

School Information

Elementary School: Per Board of Ed

Junior High School:

Senior High School: Per Board of Ed
Location Information

Direction: Call Agent WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
681 N Main Street, Norwich, CT, 06360	$495,000	8	4	2,800	2,800 SqFt
104 Norwich Avenue, Norwich, CT, 06360	$299,900	6	3	2,056	2,056 SqFt
87 Hunters Avenue, Norwich, CT, 06360	$399,900	4	4	3,128	3,128 SqFt
77 Taftville Occum Road, Norwich, CT, 06360	$268,000	4	2	1,518	1,518 SqFt
36 Reynolds Street, Norwich, CT, 06360	$309,900	4	2	1,516	1,516 SqFt
11 Division Street, Norwich, CT, 06360	$54,300	4	2	2,130	2,130 SqFt
35 Lake Street, Norwich, CT, 06360	$299,000	9	3	2,040	2,040 SqFt
15 Platt Avenue, Norwich, CT, 06360	$1,975,000	6	3	2,453	2,453 SqFt
232 Franklin Street, Norwich, CT, 06360	$299,900	4	4	2,606	2,606 SqFt
220 Franklin Street, Norwich, CT, 06360	$240,000	9	3	2,416	2,416 SqFt

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IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

ByOwner last updated this listing 06/06/2026 @ 13:23

MLS: 24181437 LISTED BY: Anthony Velez, VC Property Group, LLC SOURCE: SmartMLS