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20-26 Fairfield Avenue, Norwalk, CT 06854 Fairfield Avenue Apartments

$4,200,000 $200,000.00 / unit
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854
20-26 Fairfield Avenue, Norwalk, CT 06854

For Sale Details

$4,200,000
$200,000.00 / unit
  • Property Type Multifamily
  • Sale Type Investment
  • Status Closed
  • Created 12/12/20
  • Updated 06/30/21
  • Closed On 06/01/21
  • Closing Price $387,500

About 20-26 Fairfield Avenue, Norwalk, CT 06854

Fairfield Avenue Apartments is a 21 Unit value-add, modern construction apartment complex located in Norwalk, CT. Legacy ownership has kept the properties well maintained, but has not increased rents to keep pace with the market. The average in-place rent at the subject property is approximately $300/Month below market rates. The opportunity exists, through programmatic upgrades to the units, to significantly increase rents to market levels. The property is located within immediate proximity and walking distance to Downtown South Norwalk entertainment, dining, shopping, and transit amenities.

Building Details

  • Building Area (SF): 7,500
  • Year Built: 1922 - 1984
  • Number of Units: 21
  • Number of Buildings: 4

Land Details

  • Acreage: 0.67

Financial Characteristics

  • Effective Gross Income: $315,086
  • Net Operating Income: $222,040

The Multifamily property at 20-26 Fairfield Avenue, Norwalk, CT 06854 is currently available for sale. Contact Northeast Private Client Group from Northeast Private Client Group for more information.