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$1,950,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 5 Total Beds
  • Updated 2 hours ago
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Mixed use property with 1 commercial unit and 8 apartments located in the heart of downtown New London. This 10,636 SF, 3 story building has 1 commercial 2,556 SF unit on the ground level. Formerly 'Diamond Pizza' the restaurant space is currently available and turnkey-ready with F,F&E. There are 8 apartments on the 5,112 SF second and third floors. There is a 2,556 SF basement. NOI approximately $107,329. Room to increase NOI leasing the commercial unit which had been paying $3,075 / month. Contact office for financials. Excellent investment property with stable cash flow. Property may be purchased as a package with 153 Bank St and 147 Bank Street for a total of 6 commercial units and 17 Apartments.

Full Property Details for 53 Bank St

General

  • Price: $1,950,000
  • Taxes: (July 2025-June 2026)
  • Status: Active
  • Type: Multi-Family
  • Source: SMARTMLS
  • MLS ID: 24157233
  • Updated: Today (3/3/2026)
  • Added to Site: Today

Interior

  • Number of Rooms: 5

Rooms

Bedrooms

  • Total Bedrooms: 5

Location

  • County: New London
  • Driving Directions: GPS friendly.

School Information

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

Heating & Cooling

  • Cooling Type: Split System
  • Heating Type: Heat Pump, Natural Gas
  • Heating Fuel: Natural Gas
  • Water Heater: Other

Utilities

  • Sewer: Public Sewer In Street
  • Water: Public Water In Street

Structural Information

  • Architectural Style: Units on different Floors
  • Construction Status: No/Resale
  • Exterior Const.: Brick
  • Basement Desc.: Full, Unfinished
  • Roof: Other
  • Square Feet: 7,668
  • Above Ground: 7,668 Sq. Ft.
  • Year Built: 1897

Unit Information

Unit 1

  • Square Feet: 1010
  • Bedrooms: 1

Unit 2

  • Square Feet: 1010
  • Bedrooms: 1

Unit 3

  • Square Feet: 1010
  • Bedrooms: 1

Unit 4

  • Square Feet: 1010
  • Bedrooms: 1

Unit 5

  • Square Feet: 1010
  • Bedrooms: 1

Lot Features

  • Lot Size (Acres): 0.11
  • Zoning: CBD-1
  • Lot Description: Level Lot

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Front Desc.: Ocean Frontage

Financial Considerations

  • Assessment Amount: $831,700
  • Tax Year: July 2025-June 2026

Disclosures and Reports

  • Property ID: 1999829

Listed by U.S. Properties Real Estate Services, LLC, Constance Howard

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Listing agent

— 53 Bank St —

  • Constance Howard

    U.S. Properties Real Estate Services, LLC

Agent Contact: (615) 293-3878 Office Contact: (860) 691-2011

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 53 Bank St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/03/2026
Listed
$1,950,000
434.25%
MLS
9/13/2017
Sold
$365,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 53 Bank St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$23,446
-1%
$831,700
—
2023
$23,703
-14%
$831,700
17%
2023
$27,417
—
$713,440
—
2022
$27,439
-2%
$713,440
—
2021
$27,931
-1%
$713,440
—
2020
$28,102
114%
$713,440
123%
2019
$13,157
14%
$320,110
25%
2018
$11,571
2%
$256,340
—
2017
$11,346
6%
$256,340
—
2016
$10,723
6%
$256,340
—
2015
$10,123
15%
$256,340
—
2014
$8,785
26%
$256,340
1%
2011
$6,978
—
$253,750
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by U.S. Properties Real Estate Services, LLC, Constance Howard

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53 Bank Street, New London, CT 06320 (MLS# 24157233) is a Multi-Family property with 9 units containing 5 bedrooms and 0 full bathrooms. 53 Bank Street is currently listed for $1,950,000 and was received on March 03, 2026. Want to learn more about 53 Bank Street? Do you have questions about finding other Multi-Family real estate for sale in New London? You can browse all New London real estate or contact a Coldwell Banker agent to request more information.

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