$795,000
11 bd · 7 ba · 5,069 sqft · 16,988 sqft lot
7 Broad St, Norwich, CT 06360
Multi-family · Built 1820 · $157/sqft ·
$4,791/mo est. payment
Flood factor 1/10
About this home
Exceptional 7-unit multifamily investment opportunity located in one of New London County's most sought-after residential neighborhoods. Featuring a desirable mix of three 2-bedroom units, two 1-bedroom units, and two studio units, this property offers broad tenant appeal and strong in-place cash flow. Currently 100% occupied with two units recently leased at market rents, the asset benefits from tenant-paid utilities, off-street parking, public water and sewer, and a spacious 0.39-acre lot. With projected stabilized annual income of approximately $133,800 and a projected 14.78% stabilized ROI, investors have the opportunity to further increase cash flow through continued rent stabilization while maintaining strong occupancy. Conveniently located near downtown Norwich, healthcare facilities, shopping, restaurants, and major transportation routes, the property benefits from consistent rental demand and limited multifamily inventory. Property may also be purchased in combination with the nearby 7-unit multifamily property at 202 Broadway, creating a unique opportunity to acquire and operate a 14-unit portfolio within close proximity.
Facts and features
Bedrooms
- Bedrooms: 11
Other Rooms
- Total Rooms: 26
- Basement Features: Full
Bathrooms
- Total Bathrooms: 7
- Full Bathrooms: 7
Heating and Cooling
- Heating Features: Hot Air
- Heating Fuel: Gas In Street
- Heating: Yes
- Number of Fireplaces: 0
- Water Heaters: Upright Tank
Land Info
- Lot Description: Level Lot
- Lot Size Acres: 0.39
- Lot Size Source: Public Records
- Lot Size Square Feet: 16988
School Information
- Elementary School: Per Board of Ed
- High School: Per Board of Ed
Multi-Unit Info
- Number of Units In Community: 6
Other Property Info
- Annual Tax Amount: 8995
- Source Listing Status: Active
- County: New London
- Directions: Call Agent
- Tax Year: 2027
- Source Property Type: Multi-Family For Sale
- Postal Code Plus 4: 4344
- Zoning: MF
Schools
- 5
Kelly Middle School
middle · 6-8 · 1.1 mi
- 2
Samuel Huntington School
elementary · K-5 · 1.6 mi
St Patrick Cathedral School
elementary · K-8 · 0.2 mi
- 4
Norwich Free Academy
high · 9-12 · 0.4 mi
Stoneview Children's University
elementary · K-3 · 0.7 mi
St. Joseph School
elementary · K-8 · 0.7 mi
Price history
- Sep 18, 2026 · Listing Removed—
- Sep 17, 2026 · Listed$795,000
- Aug 27, 2026 · Price Changed$795,000
- Aug 21, 2026 · Price Changed$850,000
- Jun 6, 2026 · Listed$895,000
- Jun 6, 2026 · Listing Removed—
- Jun 5, 2026 · Listed$1,695,000
- Aug 7, 2011 · Listing Removed$895
Tax history
- 2026$8,995 tax · $263,400 assessed
- 2023$9,441 tax · $194,100 assessed
- 2022$9,410 tax · $194,100 assessed
- 2021$9,441 tax · $194,100 assessed
- 2020$9,408 tax · $194,100 assessed
- 2019$9,315 tax · $194,100 assessed
- 2018$9,523 tax · $196,800 assessed
- 2017$9,592 tax · $196,800 assessed
Where it is
Listed by Anthony Velez · VC Property Group, LLC · SMARTMLS
