15 Hillhurst Street, StillwaterStamford, CT 06902Price: $1,150,000

Excellent investment opportunity at 15 Hillhurst Street in Stamford's desirable Stillwater neighborhood, conveniently located directly behind the Stamford Hospital parking area and within walking distance of Stamford Hospital, Downtown Stamford, UConn Stamford, restaurants, shopping, public transportation and other area amenities. This well-located three-family property was extensively renovated in 2010, when the interior was gutted and rebuilt, including new plumbing and electrical systems. All three units are currently occupied, providing immediate rental income with significant potential for future growth. The first unit offers 2 bedrooms and currently rents for $1,700/month. The second unit features 3 bedrooms and currently rents for $3,200/month with Section 8 participation. The third unit also offers 3 bedrooms and currently rents for $2,200/month. Current rents are believed to be below prevailing market levels, particularly the first and third units. Estimated market rents are approximately $2,400/month for the 2-bedroom unit and $3,300/month for each 3-bedroom unit, offering an attractive opportunity to increase future rental income subject to existing leases, applicable regulations and market conditions. An excellent opportunity for an investor or owner-occupant seeking a multifamily property in a highly convenient Stamford location with strong rental demand.