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178 West Main Street, East Lyme, CT 06357
$732,500
178 West Main Street, East Lyme, CT 06357View this property at 178 West Main Street, East Lyme, CT 06357
178 West Main StreetEast LymeCT06357
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Property Description
Welcome to Shady Oaks. This multifamily property consists of 8 separate cottages. 7 (1bd/1ba)/(Studio) cottage apartments that range from 450-600 sq/ft. 1 (2bd/1ba) single family home that is 818 sq/ft. Huge upside in raising rents on these year-round apartments or by possibly converting them into Airbnb/short term rental. Big value add play, potential to turn this property into 9 or 10 units total. A fire damaged duplex at the front of the property is waiting to be rebuilt. Seller has approvals for a single family on the same footprint. Proximity to the ocean, casinos, downtown Mystic CT, and more. Great location for tenants/short term rental. Great tenants currently! Please see financials attached in downloads for more detailed breakdown of each unit utilities. All units pay their own heat, hot water, and electric.
Full Property Details
Full Property Details for 178 W Main St
General
- Sold For: $732,500
- Taxes: (July 2023-June 2024)
- Status: Closed
- Type: Commercial
- MLS ID: 170569790
- Added to Site: 350 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
Parking
- Parking: Off Street Parking
Location
- County: New London
- Driving Directions: GPS friendly
Heating & Cooling
- Cooling Type: Window Unit
- Heating Type: Baseboard, Radiator, Electric, Propane
- Heating Fuel: Electric, Propane
Utilities
- Sewer: Public Sewer In Street, Septic
- Water: Public Water Connected, Public Water In Street
- Utility Description: Electric
Structural Information
- Construction Status: No/Resale
- Roof: Asphalt Shingle, Fiberglass Shingle
- Square Feet: 4,785
- Sq. Ft. Source: Public Records
- Current Bldg. Use: Residential units
- Year Built: 1930
Unit Information
Unit 1
- Unit Description: 1 Bedroom
- Square Feet: 525
- Total Bathrooms: 1
Unit 2
- Unit Description: 2 Bedrooms
- Total Bathrooms: 1
Lot Features
- Lot Size (Acres): 1.34
- Frontage: Municipal Street
- Present Use: Residential units
- Potential Use: Residential units
- Zoning: R40
- Lot Description: Level Lot
Financial Considerations
- Assessment Amount: $300,790
- Tax Year: July 2023-June 2024
Disclosures and Reports
- Documents Avail.: None
- Property ID: 1466767
Listed by Berkshire Hathaway NE Prop., Lisa Cozzi Team, Brendon Mansaku
Sold by Keller Williams Realty, Brian Sherwood
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Schools
Schools serving 178 W Main St
School District:East Lyme School District
Rating | Name | Grades | Distance |
---|---|---|---|
30 Chesterfield Rd, East Lyme, CT 06333 | 9-12 | 3.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 178 W Main St
Date
Details
Price
Change
Source
3/01/2024
Sold
$732,500
-10.12%
MLS
10/03/2023
Price Reduced
$815,000
-9.44%
MLS
5/23/2023
Listed
$900,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
178 West Main Street, East Lyme, CT 06357 (MLS# 170569790) is a Commercial property that was sold at $732,500 on March 01, 2024. Want to learn more about 178 West Main Street? Do you have questions about finding other Commercial real estate for sale in East Lyme? You can browse all East Lyme real estate or contact a Coldwell Banker agent to request more information.