Town Line Condos Listing Details & Market Data

The Town Line Condos are conveniently located on Route 7 and 1.5 miles away from the Merritt Parkway. A mile down the road on Route 7 is the Merrit 7 Corporate Park and BLT’s North Seven Development which both offer retail and dining experiences. The location offers the best of both worlds being on the Wilton town line, offering easy access to suburbia while still being just a 10 minute drive away from South Norwalk. South Norwalk is considered one of the premiere dining, entertainment, and nightlife hubs in the state of Connecticut.This offering is for six (6) residential condos. 664 & 666 Main Avenue consists of forty-three (43) total condos, comprised of twelve (12) retail and thirty-one (31) residential. Constructed in 1989, the condos being offered consists of five (5) 1-Bedroom/1.5-Bathroom townhomes and one (1) 2-Bedroom/1-Bathroom flat. The property features modern open layouts, off-street parking, in-unit washer and dryer, dishwashers, walk in closets, and central heat & air conditioning. Tenants are responsible for their own electric expense, which includes central forced air and heating provided by an electric boiler. Water, sewer,and all common area and exterior maintenance are included in the HOA fee. A new owner has the unique opportunity to purchase six (6) exceptionally well-maintained condos while having the benefit of adding value through unit upgrades and a more aggressive leasing strategy. Current rents sit about 20% below market comps of similar size and finishes. A new owner can easily eliminate the current loss to lease by marking the in-place rents to market rate with very minimal investment capital required. The Town Line Condos are conveniently located on Route 7 and 1.5 miles away from the Merritt Parkway. A mile down the road on Route 7 is the Merrit 7 Corporate Park and BLT’s North Seven Development which both offer retail and dining experiences. The location offers the best of both worlds being on the Wilton town line, offering easy access to suburbia while still being just a 10 minute drive away from South Norwalk. South Norwalk is considered one of the premiere dining, entertainment, and nightlife hubs in the state of Connecticut.