NOT LISTED FOR SALE

19 Chestnut St Willimantic, CT 06226

Estimated Value: $1,364,808

Studio
1 Bath
13,769 Sq Ft
$99/Sq Ft Est. Value

Last Sold October 11, 2024

Last sale price $1,200,000 $87 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $8,817/month

235 Days on Market

Highlights

  • City View
  • Property is near public transit, shops, and bus stop
  • 2 Fireplaces
  • 0.68 Acre Lot
  • Attic
  • Smart Appliances

About This Home

As of October 2024

Rental complex for sale! Just shy of $20,000/month rent roll! Currently 97% rented. Most utility expenses are covered by the tenants. 11 units located 3 blocks from ECSU and 8 miles from UConn. University populations are increasing! 38 bedrooms and 11.5 bathrooms total amongst 2 apartment buildings and one single family house. 1 6-family, 1 4-family, and 1 single family. Roughly 13,769 sqft of total living space, 1,176 sqft of additional space. The sale of the complex consists of the properties 27-29 Chestnut Street, 19-25 Chestnut Street, and 49 Spring Street, all in Willimantic Connecticut. The property includes a common area barn and a heated storage garage that can be leased for more income. All properties are in the same location to form one compound. Plenty of off street parking connecting all of the properties together. Plenty of street parking as well. Plenty of value-add opportunities! Turn-key operation ready for a new owner!

Last Agent to Sell the Property

Jake Cordelli

Cordelli Realty LLC License #REB.0793614 Listed on: 02/19/2024

Last Buyer's Agent

Jake Cordelli

Cordelli Realty LLC License #REB.0793614 Listed on: 02/19/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,271

Year Built

  • Built in 1908

Lot Details

  • 0.68

Parking

  • 25 Parking Spaces

Home Design

  • Brick Foundation
  • Stone Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Wood Siding
  • Asbestos Siding
  • Vinyl Siding

Interior Spaces

  • 13,769 Sq Ft Home
  • 2 Fireplaces
  • City Views
  • Unfinished Basement
  • Partial Basement
  • Smart Appliances

Attic

  • Unfinished Attic
  • Attic or Crawl Hatchway Insulated

Home Security

  • Smart Lights or Controls
  • Smart Locks
  • Smart Thermostat

Schools

  • Windham High School

Utilities

  • Radiator
  • Baseboard Heating
  • Heating System Uses Steam
  • Heating System Uses Natural Gas
  • Heating System Uses Oil
  • 60+ Gallon Tank
  • Fuel Tank Located in Basement

Additional Features

  • Modified Wall Outlets
  • Energy-Efficient Lighting
  • 0.68 Acre Lot
  • Property is near public transit, shops, and bus stop

Community Details

  • 11 Units
  • Coin Laundry
  • Gross Income $228,732

Listing and Financial Details

  • Assessor Parcel Number 2289948

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,271

Year Built

Built in 1908

Lot Details

0

Listing Details

  • Neighborhood: Willimantic
  • Property Type: Multi-Family For Sale
  • Style: Units on different Floors, Other
  • Sq Ft Est Heated Above Grade: 13769
  • Total Sq Ft: 13769
  • Year Built: 1908
  • New Construction: No/Resale
  • Nearby Amenities: Commuter Bus, Library, Medical Facilities, Public Pool, Shopping/Mall, Walk to Bus Lines
  • Remarks Public Addendum: 2023 Financials: Total 2023 Operating Income: $228,732 Total 2023 Portfolio Expenses: $106,411 -Total taxes: $27,826 -Total insurance: $8,835 -Total utilities: $28,440 -Total property management: $11,000 -Total payroll: $11,000 -Total professional costs: $3,000 -Total repairs & maintenance costs: $10,560 -Total trash removal: $1,750 -Total landscaping/snow removal cost: $4,000 NOI: $122,321 Cap Rate: 9.41% Unit Breakdown: -29 Chestnut, 30 (3rd floor 4 bedroom, 1 bath, 1,579 sqft, $2,000/month income. Utilities: water/sewer and hot water included. Electricity and gas heat paid by tenants.) -29 Chestnut, 20F (2nd floor front unit, 2 bedroom, 1 bath, 800 sqft, $1,400/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -29 Chestnut, 20R (2nd floor rear unit, 2 bedroom, 1 bath, 800 sqft, $1,325/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, 10F (1st floor front unit, 2 bedroom, 1 bath, 800 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, 10R (1st floor rear unit, 2 bedroom, 1 bath, 800 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -27 Chestnut, Ground (Ground floor unit, 2 bedroom, 1 bath, 1,579 sqft, $1,300/month income. Utilities: water/sewer, heat, and hot water included. Electricity paid by tenants.) -19 Chestnut (Ground floor, 5 bedroom, 1 bath, 1,444 sqft, $1,800/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -21 Chestnut (1st floor, 5 bedroom, 1 bath, 1,444 sqft, $2,000/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -23 Chestnut (2nd floor, 5 bedroom, 1 bath, 1,444 sqft, $2,000/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -25 Chestnut (Rented by the room, 1 bedroom vacancy) (3rd floor, 4 bedroom, 1 bath, 1,444 sqft, $1,540/month income. Utilities: water/sewer included. Electricity and gas heat and hot water paid by tenants.) -49 Spring (Single family, 5 bedrooms, 1.5 bath, 1,633 sqft, $4,000/month income, all utilities included (gas heat/hot water, electricity, water/sewer.)
  • Property Sub Type: 5 Family+
  • Direct Waterfront: No
  • Home Warranty Offered: No
  • Radon Mitigation Air Ynu: No
  • Radon Mitigation Water Ynu: No
  • Directions: Google maps
  • Financing Used: Withheld
  • Street Type: Street
  • Special Features: None

Interior Features

  • Fireplaces: 2
  • Attic Description: Access Via Hatch, Unfinished
  • Basement Description: Partial, Unfinished
  • Laundry Room Location: Next to buildings
  • Laundry Room Info: Coin Op Laundry, Common Laundry Area
  • Attic: Yes
  • Home Automation: Appliances, Electric Outlet(s), Lighting, Lock(s), Thermostat(s)

Exterior Features

  • Exterior Siding: Vinyl Siding, Wood, Asbestos
  • Foundation Type: Brick, Stone
  • Roof Information: Asphalt Shingle Shingle
  • Waterfront Description: Not Applicable
  • Swimming Pool: No
  • Construction Description: Frame

Garage/Parking

  • Total Parking Spaces: 25
  • Garage And Parking: Driveway, Paved, Off Street Parking

Utilities

  • Cooling System: None
  • Heat Type: Baseboard, Hot Air, Radiator, Steam
  • Heat Fuel Type: Electric, Natural Gas, Oil
  • Fuel Tank Location: In Basement
  • Hot Water Description: 80 Gallon Tank
  • Water Source: Public Water Connected
  • Sewer: Public Sewer Connected

Lot Info

  • Acres: 0.68
  • Lot Description: City Views
  • Zoning: NPR2
  • Parcel #: 2289948

Multi Family

  • Gross Annual Income: 228732
  • Total Number Of Units: 11

Tax Info

  • Tax Year: July 2024-June 2025
  • Property Tax: 20271

MLS Schools

  • Elementary School: Per Board of Ed
  • High School: Windham

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 26, 2019
Sold by
Uconn Student Housing Llc
Bought by
Th3 Delaware Llc
Current Estimated Value
$1,364,808

Purchase Details

Closed on
May 31, 2018
Sold by
Meyburd Assoc Real Est
Bought by
Uconn Student Housing

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$492,000
Interest Rate
4.4%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 15, 2005
Sold by
Meehan William C and Meehan Virginia L
Bought by
Gelburd Gail

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$431,000
Interest Rate
5.64%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Th3 Delaware Llc -- --
Uconn Student Housing $675,000 --
Gelburd Gail $575,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gelburd Gail $492,000
Previous Owner Gelburd Gail $431,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/11/2024 10/11/24 Sold $1,200,000 -7.7% $87 / Sq Ft
02/19/2024 02/19/24 For Sale $1,300,000 -- $94 / Sq Ft
Source: SmartMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $20,249 $546,970 $28,110 $518,860
2024 $20,271 $546,970 $28,110 $518,860
2023 $20,565 $433,870 $24,440 $409,430
2022 $20,262 $433,870 $24,440 $409,430
2021 $21,733 $433,870 $24,440 $409,430
2020 $21,685 $433,870 $24,440 $409,430
2019 $21,333 $433,870 $24,440 $409,430
2017 $16,647 $349,650 $19,620 $330,030
2015 $16,077 $349,650 $19,620 $330,030
2014 $15,185 $349,650 $19,620 $330,030
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2024

    Jake Cordelli

    Cordelli Realty LLC

    1 in this area

    8 Total Sales

    Jake Cordelli
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Map

Source: SmartMLS

MLS Number: 170625002

SmartMLS

APN: WIND-001303-000052-000019

Connecticut Windham County Willimantic 06226

19 Chestnut St, Willimantic, CT

Not Listed for Sale

MultiFamily

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