NOT LISTED FOR SALE

274 Central Ave Norwich, CT 06360

Central Norwich Neighborhood

Estimated Value: $836,170

14 Beds
-- Bath
4,260 Sq Ft
$196/Sq Ft Est. Value

Last Sold January 20, 2023

Last sale price $600,000 $141 Per Sq Ft

Est. 39% increase in value since last sale

Current estimated payment $5,460/month

194 Days on Market

Highlights

  • Attic
  • Property is near shops and bus stop
  • Level Lot
  • Thermal Windows
  • Baseboard Heating

About This Home

As of January 2023

Tremendous opportunity to own 9 mixed use units on Central Ave. Norwich! Five 2BR, One 4BR, One 1BR plus a restaurant and accountant office. These buildings have been nicely maintained inside and out and offer lots of upside on rents. Roof is 5yr. old, all new windows, tenants pay all utilities. Showings 9am Sat. May 21, appointment must be confirmed.

Last Agent to Sell the Property

Michelle Lorenzetti

Premier Re Group LLC License #REB.0789938 Listed on: 05/13/2022

Last Buyer's Agent

Mike Doherty

eXp Realty License #RES.0814339

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,129

Year Built

  • Built in 1900

Lot Details

  • 8,712 Sq Ft Lot
  • Level Lot

Home Design

  • Side-by-Side
  • Concrete Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Concrete Siding
  • Vinyl Siding

Interior Spaces

  • 14 Bedrooms
  • 4,260 Sq Ft Home
  • Thermal Windows
  • Attic or Crawl Hatchway Insulated

Parking

  • On-Street Parking
  • Unassigned Parking

Utilities

  • Window Unit Cooling System
  • Baseboard Heating
  • Electric Water Heater

Additional Features

  • Exterior Lighting
  • Property is near shops and bus stop

Community Details

  • 9 Units
  • Gross Income $72,900

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,129

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-Family For Sale
  • Style: Units on different Floors, Units are Side-by-Side
  • Sq Ft Est Heated Above Grade: 4260
  • Total Sq Ft: 4260
  • Year Built: 1900
  • Nearby Amenities: Park, Playground/Tot Lot, Public Rec Facilities, Shopping/Mall, Walk to Bus Lines
  • Property Sub Type: 5 Family+
  • Direct Waterfront: No
  • Home Warranty Offered: No
  • Radon Mitigation Air Ynu: No
  • Radon Mitigation Water Ynu: No
  • Tax Year Updated Dt: 07/13/2022
  • Directions: 274 Central Ave.
  • Special Features: None

Interior Features

  • Total Bedrooms: 14
  • Attic Description: Access Via Hatch
  • Attic: Yes

Exterior Features

  • Exterior Features: Lighting, Sidewalk
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Concrete
  • Roof Information: Asphalt Shingle
  • Swimming Pool: No
  • Construction Description: Frame, Concrete

Garage/Parking

  • Garage Parking Info: Unassigned Parking, On Street Parking

Utilities

  • Cooling System: Window Unit
  • Heat Type: Baseboard
  • Heat Fuel Type: Electric
  • Hot Water Description: Electric
  • Water Source: Public Water Connected
  • Sewer: Public Sewer Connected, Public Sewer In Street

Schools

  • Intermediate School: Per Board of Ed

Green Features

  • Energy Features: Thermopane Windows

Lot Info

  • Acres: 0.2000
  • Lot Description: Level Lot
  • Flood Zone: No
  • Zoning: MF

Multi Family

  • Gross Annual Income: 72900
  • Unit Count: 6
  • Total Num Of Units: 9

Tax Info

  • Tax Year: July 2022-June 2023
  • Property Tax: 9129
  • Mil Rate Base: 42.180
  • Mil Rate Tax District: 6.300
  • Assessor Parcel Number: 2413738

MLS Schools

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

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2022
Closed on
Jan 5, 2023
Sold by
55 Caddy Llc
Bought by
Union Central Const Llc
Seller's Agent
Michelle Lorenzetti
Premier Re Group LLC
Buyer's Agent
Mike Doherty
eXp Realty
List Price
$837,000
Sold Price
$600,000
Premium/Discount to List
-$237,000
-28.32%
Views
29
Current Estimated Value
$836,170

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$236,170
Avg. Annual Appreciation
11.66%
Original Mortgage
$450,000
Outstanding Balance
$428,368
Interest Rate
6.27%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan
Estimated Equity
$407,802

Purchase Details

Closed on
Feb 28, 1983
Bought by
Guarnaccia Salvatore P
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Union Central Const Llc -- None Available
Union Central Const Llc -- None Available
Union Central Const Llc -- None Available
Guarnaccia Salvatore P -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Union Central Const Llc $450,000
Closed Union Central Const Llc $450,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/20/2023 01/20/23 Sold $600,000 -28.3% $141 / Sq Ft
11/23/2022 11/23/22 Pending -- -- --
05/13/2022 05/13/22 For Sale $837,000 -- $196 / 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 $13,412 $331,400 $22,200 $309,200
2024 $12,659 $331,400 $22,200 $309,200
2023 $9,159 $188,300 $21,200 $167,100
2022 $9,129 $188,300 $21,200 $167,100
2021 $9,159 $188,300 $21,200 $167,100
2020 $9,127 $188,300 $21,200 $167,100
2019 $9,037 $188,300 $21,200 $167,100
2018 $7,883 $162,900 $25,500 $137,400
2017 $7,940 $162,900 $25,500 $137,400
2016 $7,992 $162,900 $25,500 $137,400
2015 $7,829 $162,900 $25,500 $137,400
2014 $7,482 $162,900 $25,500 $137,400
Source: Public Records

Agents Affiliated with this Home

  • Michelle Lorenzetti

    Seller's Agent in 2023

    Michelle Lorenzetti

    Premier Re Group LLC

    (860) 335-0681

    2 in this area

    140 Total Sales

    Michelle Lorenzetti
    Section Image
  • Mike Doherty

    Buyer's Agent in 2023

    Mike Doherty

    eXp Realty

    (860) 941-9996

    16 in this area

    126 Total Sales

    Mike Doherty
    Section Image
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Map

Source: SmartMLS

MLS Number: 170485352

SmartMLS

APN: NORW-000086-000002-000025

Connecticut New London County Norwich 06360 Central Norwich

274 Central Ave, Norwich, CT

Not Listed for Sale

MultiFamily

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