1. Connecticut
  2. Meriden
  3. 235 Hanover Street
$399,000

235 Hanover Street, Meriden, CT 06451

  • 5 baths |
  • 2,528 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1890
  • Property Lot Size Icon3,920sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $158/sqft
  • Property List Date Icon Listed 4 months ago

Property Description

Attention Investors: Fully Occupied Mixed Use Property! We are seeking investors for a Value-Added Mixed-Use property currently generating an impressive 11.1 Capitalization Rate (CAP). All tenants are currently on month-to-month leases and are paying below-market rents. The new owner has the potential to significantly enhance the property's CAP to 13 or even higher by implementing market-based rents. The property consists of three spacious residential studio apartments on the upper level and two commercial retail spaces on the ground level. It is strategically situated in Meriden's vibrant downtown area, conveniently located near the new train station, town green, public library, and major highways. Each apartment is equipped with electric baseboard heating, ensuring comfortable living. Each unit has its own separate electric meter, along with a house meter. There are ample parking options, including four parking spaces behind the building for both residential and retail units, as well as on-street parking.

Listing Status:
Active
Date Added:
April 2, 2025 at 10:51AM
Listing Office:
Coldwell Banker Realty : (203) 481-4571
Listing Agent:
Joe Scarpellino : (203) 623-4422
MLS ID:
24085159
  • Laundry: None
  • Basement: None
  • A/C: None
  • Heating: Hot AirElectric
  • Fireplace: Fireplaces: 0

This listing courtesy of Joe Scarpellino, Coldwell Banker Realty

Monthly Payment

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

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Location

Schools Nearby

B

Benjamin Franklin School

426 W Main St, Meriden, CT, 06451

Grades PK-5

0.49 miles away

L

Lincoln Middle School

164 Centennial Ave, Meriden, CT, 06451

Grades 6-8

0.73 miles away

O

Orville H. Platt High School

220 Coe Ave, Meriden, CT, 06451

Grades 9-12

0.84 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.