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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: Multi-Family
- MLS ID: 170569789
- Added to Site: 383 day(s) ago
Exterior
- Exterior Features: Deck
Parking
- Parking: Off Street Parking
Location
- County: New London
- Driving Directions: Per GPS
School Information
- Elementary School: Per Board of Ed
- High School: Per Board of Ed
Heating & Cooling
- Cooling Type: Window Unit
- Heating Type: Baseboard, Electric
- Heating Fuel: Electric
- Water Heater: Electric
Utilities
- Sewer: Public Sewer In Street, Septic
- Water: Public Water Connected
Structural Information
- Construction Status: No/Resale
- Exterior Const.: Vinyl Siding, Other
- Basement Desc.: None
- Roof: Asphalt Shingle
- Square Feet: 4,785
- Above Ground: 4,785 Sq. Ft.
- Year Built: 1930
Lot Features
- Lot Size (Acres): 1.34
- Driveway/Sidewalk: Dirt
- Zoning: R40
- Lot Description: Secluded, Lightly Wooded
Financial Considerations
- Assessment Amount: $300,790
- Tax Year: July 2023-June 2024
Disclosures and Reports
- 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
5/16/2023
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# 170569789) is a Multi-Family 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 Multi-Family 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.