STAMFORD – A newly renovated home at 52 Orchard St. has units available for leasing after being sold recently for $1.58 million, according to real estate broker Horvath & Tremblay of Shelton.
No details about the buyer were available, however the seller was Orchard Garden LLC, which purchased the property for $930,000 in 2021.
The three-story, multi-family building in the Waterside neighborhood consists of six, 2-Bedroom/1-Bathroom units with 5,900 square feet of living area in 9,074 square feet of gross area on a 0.13-acre parcel. The property is separately metered for electricity and gas fired heat and hot water which the tenants pay directly. The landlord is responsible for common area electric and domestic water and sewer.
The location offers convenient access to area shopping, with numerous retailers, restaurants and entertainment amenities within walking distance. It is walkable to several municipal bus stops and the Stamford Train Station, offering service on the Metro-North Line from New York City, as well as Amtrak lines that provide regional service throughout the Northeast.
There is a 1,958-square-foot basement where storage units and coin-operated laundry machines can be added for additional income.
Built in 1905, the building has a gross operating income in the amount of $180,300 and a net operating income of $148,800.00.
