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Key Details
Sold Price $435,000
Property Type Multi-Family
Sub Type 2 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,744 sqft
Price per Sqft $249
MLS Listing ID 24027842
Sold Date 09/18/24
Style Other
Bedrooms 5
Full Baths 2
Year Built 1920
Annual Tax Amount $4,602
Lot Size 7,405 Sqft
Property Description
Explore this exceptional investment opportunity in Old Lyme, CT, ideally positioned right off I-95 and close to the picturesque White Sand Beach Town Beach. This property features two separate units, making it a versatile choice for investors interested in both long-term rentals and short-term accommodations such as Airbnb, or for owner-occupants seeking a residence that can also generate income. The front unit offers a practical layout with three bedrooms and one bathroom, perfect for families or individuals looking for accessible, comfortable living. The second unit includes two bedrooms and one bathroom, complemented by an attached garage, adding convenience and value. This arrangement is ideal for owner-occupants looking to offset their mortgage payments and increase cash flow through rental income. Located near a popular local attraction, the property's proximity to the beach enhances its appeal for short-term vacation rentals while maintaining steady demand for long-term leases. This strategic location not only provides excellent rental income potential but also offers flexibility in rental strategy to adapt to various market needs and preferences. Whether you're looking to expand your rental portfolio, start in real estate investment, or find a home that helps pay for itself, this multi-unit property in Old Lyme represents a smart buy with significant income potential, ideal for diversifying your investment approach.
Location
State CT
County New London
Zoning R15
Rooms
Basement Full, Unfinished
Interior
Heating Baseboard
Cooling Ceiling Fans
Exterior
Garage Attached Garage
Garage Spaces 1.0
Waterfront Description Not Applicable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Concrete, Stone
Sewer Septic
Water Private Well
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
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Bought with Marta Elmasry • Coldwell Banker Realty