**Turnkey Four-Unit Investment Opportunity!** Fully renovated and fully rented, this exceptional property offers four spacious three-bedroom, one-bath units-three in the main building and a separate cottage in the rear. Generating approximately $7,500 per month, or $90,000 annually, in reliable rental income, this is an outstanding opportunity for investors seeking immediate cash flow with minimal deferred maintenance. Extensive renovations have been completed throughout, offering low expenses and overhead and eliminating the need for major capital improvements. Three of the four units feature laundry hookups and dishwashers. Ideally located near shopping, dining, medical facilities, major commuter routes, and the area's nearby casinos. This property combines strong rental demand with convenience. Whether you're expanding your portfolio or looking for a turnkey income-producing asset, this four-unit property offers an attractive combination of condition, income, and location. One of the listing agents is also a member of the LLC that owns the property.
For sale
$725,000
502 East Main Street, Norwich, CT 06360
12beds
3,724sqft
Multi Family
Built in 1860
-- sqft lot
$698,300 Zestimate®
$195/sqft
$-- HOA
What's special
Fully renovated
- 36 days
- 150
- 7
Zillow last checked:
Listing updated:
Listed by:
The Jay and Carol Kelly Team at William Raveis Real Estate,
James Kelly (860)550-0295,
William Raveis Real Estate 860-886-1386,
Co-Listing Agent: Ernest Tollja 646-775-0207,
William Raveis Real Estate
Source: Smart MLS,MLS#: 24190644
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Baseboard, Natural Gas
Cooling
- None
Appliances
- Included: Water Heater
- Laundry: In Unit
Features
- Doors: Storm Door(s)
- Windows: Thermopane Windows
- Basement: Partial,Unfinished
- Attic: None
- Has fireplace: No
Interior area
- Total structure area: 3,724
- Total interior livable area: 3,724 sqft
- Finished area above ground: 3,724
Property
Features
- Exterior features: Sidewalk
Lot
- Size: 4,791 Square Feet
- Features: Sloped
Details
- Parcel number: 2412488
- Zoning: MF
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Units on different Floors,Other
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Concrete Perimeter, Stone
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1860
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Green energy
- Energy efficient items: Doors, Windows
Community & HOA
HOA
- Has HOA: No
Location
- Region: Norwich
Financial & listing details
- Price per square foot: $195/sqft
- Tax assessed value: $194,000
- Annual tax amount: $6,625
- Date on market: 9/1/2026
Estimated market value
$698,300
$663,000 - $733,000
$1,853/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/1/2026 | Listed for sale | $725,000+386.6%$195/sqft |
Source: | ||
| 11/8/2022 | Sold | $149,000-0.6%$40/sqft |
Source: | ||
| 8/25/2022 | Listed for sale | $149,900$40/sqft |
Source: | ||
| 9/25/2021 | Contingent | $149,900$40/sqft |
Source: | ||
| 8/1/2021 | Pending sale | $149,900$40/sqft |
Source: | ||
| 7/24/2021 | Listed for sale | $149,900+24.9%$40/sqft |
Source: | ||
| 10/2/2020 | Listing removed | $120,000$32/sqft |
Source: William Raveis Real Estate #170324309 Report a problem | ||
| 8/29/2020 | Price change | $120,000-7.7%$32/sqft |
Source: William Raveis Real Estate #170324309 Report a problem | ||
| 8/7/2020 | Listed for sale | $130,000+8.4%$35/sqft |
Source: William Raveis Real Estate #170324309 Report a problem | ||
| 4/11/1988 | Sold | $119,900$32/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $7,851 +5.9% | $194,000 |
| 2024 | $7,411 +70.1% | $194,000 +115.8% |
| 2023 | $4,356 0% | $89,900 |
| 2022 | $4,358 -0.3% | $89,900 |
| 2021 | $4,373 +0.4% | $89,900 |
| 2020 | $4,357 +57.9% | $89,900 +56.3% |
| 2019 | $2,759 -24.8% | $57,500 -24.1% |
| 2018 | $3,668 -0.7% | $75,800 |
| 2017 | $3,694 +1.4% | $75,800 |
| 2015 | $3,643 +4.7% | $75,800 |
| 2014 | $3,481 -42.3% | $75,800 -59.5% |
| 2013 | $6,034 +3.7% | $187,000 |
| 2012 | $5,816 +7.9% | $187,000 |
| 2011 | $5,391 +2.9% | $187,000 |
| 2010 | $5,240 +3.4% | $187,000 |
| 2009 | $5,070 +58.3% | $187,000 +73.1% |
| 2008 | $3,203 -11% | $108,000 |
| 2007 | $3,599 +4.1% | $108,000 |
| 2006 | $3,458 +4.1% | $108,000 |
| 2005 | $3,321 +147.3% | $108,000 +238.6% |
| 2003 | $1,343 +23.1% | $31,900 |
| 2001 | $1,091 | $31,900 |
Find assessor info on the county website
Monthly payment
Est. payment






