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29 Sheas Lane, 
Norwich, CT 06380

$450,000


6

Beds


3

Baths


3,327

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Gregory Hanner

Garden Realty

Last updated:

September 28, 2025, 07:41 PM

MLS#

24128739

Source:

CT

About This Home

29 Sheas Lane

Opportunity knocks! This fully occupied 3-family home on 1.19 acres features a rural feel, thanks to its expansive front yard and buildings set back from the road. Despite its rural ambiance, it offers urban conveniences and presents strong income potential. The 3D tour shows the exterior of the property. Each apartment includes 2 Bedrooms, in-unit laundry hookups, and separate utilities. Two units are located on the ground floor, and all tenants are long-term, with month-to-month agreements. The 2nd-floor tenant is actively planning to purchase, creating the possibility for an owner-occupant Buyer to step in. A detached 4-Car Garage plus a 2-Car Carport adds rental income, and there is abundant off-street parking. Recent updates include a brand-new main house roof and a 5-year-old garage roof. Landlord covers water, sewer, snow removal, and yard maintenance. The current gross monthly income is $3,190, with market rents projected to be higher. The current Cap rate is 4.6%, and it could be increased to 10.2% with modest rental rate increases. A full pro forma is available. This property delivers both stability and growth potential for Investors or flexibility for an Owner-Occupant. Conveniently located in Taftville near Norwich amenities and highways, this opportunity is a rare find. This opportunity is available to Cash Buyers or those using conventional mortgages, as the building won't qualify for FHA or VA financing due to peeling paint.

Home Facts

Multi-Family

3 Baths

6 Bedrooms

Built in 1930

Price Summary

450,000

$135 per Sq. Ft.

MLS #:

24128739

Last Updated:

September 28, 2025, 07:41 PM

Added:

10 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

6

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Interior

Living Area:

3,327 Sq. Ft.


Structure

Structure

Building Area:

3,327 Sq. Ft.

Year Built:

1930


Lot

Lot Size (Sq. Ft):

51,836


Finances & Disclosures

Finances

Price:

$450,000

Price per Sq. Ft:

$135 per Sq. Ft.

Source:CT
The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2025 SmartMLS, Inc.

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