Multifamily Property for Sale in East Lyme, CT

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: East Lyme, CT 06333

Description

Marcus & Millichap is pleased to present the opportunity to acquire the Faylor Apartments located at 130 Boston Post Road in East Lyme, Connecticut. This meticulously maintained legacy asset that has been under the same ownership and management for more than 45 years features 36 apartments, primarily two-bedroom townhomes with private basements, in the desirable Connecticut shoreline community of East Lyme. Faylor Apartments is Affordable Housing currently regulated as to its use, occupancy and resident income requirements under the Moderate Rental Program*. Investment Highlights: • Legacy Asset Under Continuous Ownership for More than 45 Years • Completely Renovated and Refurbished from a $2.7m Grant in 2014 ($75,000/unit) • Townhouse Style Apartments (30 of 36 Units)

Market Context

This multifamily in East Lyme, CT is listed for sale. It is offered at an approximate 2.8% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in East Lyme, CT — <a href="/search/sale/multifamily/connecticut/east-lyme">view the full market</a>.

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