Ferris Avenue Apartments

Norwalk, Connecticut, is a vibrant coastal city located along Long Island Sound in Fairfield County. Known for its rich maritime heritage, Norwalk earned the nickname “Oyster Town” due to its long history of oyster farming and trade. Today, the city blends historic charm with modern amenities, offering a mix of urban and suburban living. Its waterfront areas, including the Maritime Aquarium, Sheffield Island, and numerous marinas, highlight its connection to the sea, while Cranbury Park and the Norwalk River Valley Trail provide opportunities for outdoor recreation. The city is also home to a diverse population and a lively cultural scene, with events, festivals, and dining that reflect its inclusive community. Norwalk’s neighborhoods range from bustling downtown districts like South Norwalk (SoNo) to quieter residential areas, making it appealing to both families and professionals. With ongoing development, strong schools, and easy access to New York City, Norwalk continues to grow as one of Connecticut’s most dynamic and desirable places to live and visit.Northeast Private Client is pleased to present the exclusive opportunity to purchase 23 Ferris Avenue, a 4-unit multifamily property located at 23 Ferris Avenue, Norwalk CT. Constructed in 2001, the property consists of four (4) two-bedroom, one-and a- half- bathroom townhomes with private garages, across 5,655 square feet of living space, atop 0.17 acres. 23 Ferris Avenue has been under the current ownership since 2015. While the property has been well-maintained, all apartments feature classic finishes and in-place rents average $1,000/month below renovated market comps. This gives a new owner the opportunity to implement an apartment renovation program and a more aggressive leasing strategy to achieve a rental premium and boost revenue by $50,000+/annually. The property is conveniently located between the South Norwalk (SoNo) and Spring Hill neighborhoods. Situated just off of Route 1 and less than one minute from Interstate 95 on and offramps, the property’s location provides tenants tremendous access to employment, transportation, and shopping. Within just a 5-minute drive, tenants can enjoy all South Norwalk (SoNo) has to offer as one of the premiere dining, entertainment, and nightlife hubs in the state of Connecticut.