146 Clarence St, Torrington, CT 06790

Property Description

ALSO OFFERED AS 2-PROPERTY PORTFOLIO SALE WITH 7 GEORGE ST, TORRINGTON, CT 06790. Fully occupied and renovated just over one year ago, this 3-family investment property offers exceptional cash flow with an estimated 10%+ cap rate. With $53,856 in annual in-place gross operating income, long-term leases, and approx. $42,545 in annual net operating income, this property offers immediate income from day one, along with the flexibility to occupy one of the units in the future to subsidize personal housing costs. Recent improvements include updated electrical panels, select appliances and water heaters, and an expanded private parking area with six private gravel spaces, a valuable advantage over competing nearby rentals. Each unit features its own private entrance, while a partially fenced backyard provides additional outdoor space. Units 1 and 2 have in-unit laundry. The spacious basement presents opportunities for additional income through paid tenant storage or expanded laundry hook-ups, subject to approvals. Paid parking spaces could also offer future rental income potential. Conveniently located in central Torrington, just off S Main Street, with access to major roadways, public transportation, and many local employers. An opportunity to acquire an established, income-producing property with meaningful long-term cash flow potential.