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Old Lyme, CT Multifamily Home for Sale

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    $1,250,000

    • 4 Beds
    • 2 Baths
    • 1,698 Sq Ft

    224 Shore Rd, Old Lyme, CT 06371

    Investment Opportunity! Multi use property. Approved Permit for Storage Units. The "holy grail" of passive income! Property includes a Multi family house with 2 rental units in place and monthly income of approx $3400/ month. Back portion of lot permitted for up to 14,000 Sq Ft of storage units with office space. Full approval and plans for four storage buildings ranging in size from 1800-4200 sq

    Agent Photo

    Jodi Serapilia

    William Raveis Real Estate

    (860) 981-0852

    224 Shore Rd, Old Lyme, CT 06371

Why Live in Old Lyme

Old Lyme, located in New London County, Connecticut, is a coastal community known for its vibrant arts scene and seasonal beach population. The town features several museums and art galleries, including the Florence Griswold Museum and The Cooley Gallery, which showcase local artists' work. Old Lyme's beaches, such as Sound View Beach and White Sand Beach, are popular spots for swimming, sunbathing, and waterfront dining. The area also offers numerous parks with playgrounds, sports facilities, and walking trails through woodlands and old caves. Housing styles in Old Lyme range from antique houses dating back to the 1700s to contemporary Cape Cod homes, with options including cottages, condominiums, and ranch-style houses. The town's local shops and restaurants are concentrated in the Old Lyme Marketplace, where visitors can enjoy casual dining, sports bars, and live music at venues like Side Door Jazz Club and Nightingale’s Acoustic Café. Lyme-Old Lyme Schools are highly rated, with Lyme School, Lyme Middle, and Lyme High School all receiving top marks. The town is safer than the national average, making it a desirable place to live. Transportation options include River Valley Transit rides on Interstate 95, with the nearest hospital located 8 miles west in Westbrook and Tweed New Haven Airport over 30 miles away.

Home Trends in Old Lyme, CT

Housing Trends

Median Sale Price
$625,000
Median Single Family Sale Price
$659,900
Median Townhouse Sale Price
$430,000
Average Price Per Sq Ft
$399
Number of Homes for Sale
45
Last 12 months Home Sales
137
Months of Supply
3.90
Median List Price
$694,500
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
2%
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