1. Connecticut
  2. Deep River
  3. 163-165 Main Street
$935,000

163-165 Main Street, Deep River, CT 06417

  • 4 baths |
  • 4,184 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1850
  • Property Lot Size Icon3,049sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $223/sqft
  • Property List Date Icon Listed 5 months ago

Property Description

EXCITING NEWS, ARV has increased to $1.7 MILLION!!! We met with the town's building inspector and fire marshal for an on-site assessment, and they have expressed interest in seeing the 3rd Floor "Penthouse" get developed into rentable living space. The town needs about 30 days from application and submission of site plans to review the addition for approval. Pre-existing zoning regulations have been adjusted allowing the semi-finished third floor to be converted into a livable penthouse suite, and these revisions took effect on April 17, 2025. What's so great about this, is that we can now broker bridge financing that cuts the required down payment in HALF, for a total estimated Cash to Close of $230k. The beautiful new Penthouse suite will generate an additional $3,750 per month in rental income, pushing the ARV to $1.7 MILLION. This is a once in a life-time opportunity to purchase a Class B asset with very little down and potentially TAKE ALL OF YOUR CASH OUT OF THE DEAL upon closing the back end refinance, not to mention the 19% yearly return. DO NOT MISS OUT ON THIS EXTRAORDINARY OPPORTUNITY.

Listing Status:
Active
Date Added:
March 1, 2025 at 02:37PM
Listing Office:
VC Property Group, LLC : (860) 300-3102
Listing Agent:
Connor Wenchell : (860) 343-7800
MLS ID:
24077018
  • A/C: Window Unit
  • Heating: Hot AirOilPropane

This listing courtesy of Connor Wenchell, VC Property Group, LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

J

John Winthrop Middle School

1 Winthrop Rd, Deep River, CT, 06417

Grades 7-8

1.83 miles away

V

Valley Regional High School

256 Kelsey Hill Rd, Deep River, CT, 06417

Grades 9-12

1.19 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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