A mixed-use and multifamily package located in Chester and Deep River, two of the most desirable towns in the Lower Connecticut River Valley. The offering includes: 59 Maple Street (Chester): 7-unit multifamily asset with an additional ~1,500 SF commercial warehouse on 2.5+ acres. 163 Main Street (Deep River): 5-unit mixed-use property positioned at the gateway to the downtown retail corridor. The portfolio is fully occupied and generates approximately $210,000+ in current gross income, with upside to over $280,000 stabilized, driven by residential and commercial rent growth. At stabilization, the portfolio delivers approximately $175,748 NOI and a 8.37% cap rate, supported by a strong 1.58x DSCR. The possibility to develop the 3rd floor of 163 Main Street into additional units can drive returns even higher! This is a rare opportunity to acquire scale across two supply-constrained markets, combining in-place cash flow with clear mark-to-market upside across both residential and commercial components.
Chester is located in Connecticut. Chester, Connecticut has a population of 3,787. Chester is less family-centric than the surrounding county with 25.99% of the households containing married families with children. The county average for households married with children is 27.85%.
The median household income in Chester, Connecticut is $93,333. The median household income for the surrounding county is $90,833 compared to the national median of $69,021. The median age of people living in Chester is 49.5 years.
The average high temperature in July is 84.4 degrees, with an average low temperature in January of 19.1 degrees. The average rainfall is approximately 50.4 inches per year, with 30.3 inches of snow per year.
