Old Lyme, CT 06371,7 Griswold Avenue

$435,000

$465,000

6.5%
Est.Price: ?

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Est. payment /mo

5 Beds

2 Baths

1,744 SqFt


SOLD DATE : 09/18/2024

Key Details

Sold Price $435,000

Property Type Multi-Family

Sub Type 2 Family

Listing Status Sold

Purchase Type For Sale

Square Footage 1,744 sqft

Price per Sqft $249

MLS Listing ID 24027842

Sold Date 09/18/24

Style Other

Bedrooms 5

Full Baths 2

Year Built 1920

Annual Tax Amount $4,602

Lot Size 7,405 Sqft

Property Description

Explore this exceptional investment opportunity in Old Lyme, CT, ideally positioned right off I-95 and close to the picturesque White Sand Beach Town Beach. This property features two separate units, making it a versatile choice for investors interested in both long-term rentals and short-term accommodations such as Airbnb, or for owner-occupants seeking a residence that can also generate income. The front unit offers a practical layout with three bedrooms and one bathroom, perfect for families or individuals looking for accessible, comfortable living. The second unit includes two bedrooms and one bathroom, complemented by an attached garage, adding convenience and value. This arrangement is ideal for owner-occupants looking to offset their mortgage payments and increase cash flow through rental income. Located near a popular local attraction, the property's proximity to the beach enhances its appeal for short-term vacation rentals while maintaining steady demand for long-term leases. This strategic location not only provides excellent rental income potential but also offers flexibility in rental strategy to adapt to various market needs and preferences. Whether you're looking to expand your rental portfolio, start in real estate investment, or find a home that helps pay for itself, this multi-unit property in Old Lyme represents a smart buy with significant income potential, ideal for diversifying your investment approach.

Location

State CT

County New London

Zoning R15

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard

Cooling Ceiling Fans

Exterior

Parking Features Attached Garage

Garage Spaces 1.0

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description Level Lot

Foundation Concrete, Stone

Sewer Septic

Water Private Well

Schools

Elementary Schools Per Board Of Ed

High Schools Per Board Of Ed

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Listed by Kristopher Tramont • Real Broker CT, LLC
Bought with Marta Elmasry • Coldwell Banker Realty
agent-avatar

+1(203) 515-8852

samueljham@gmail.com

Stratford, Connecticut, 06614, United States

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