373 Blatchley Avenue , New Haven, CT 06513
New Haven, CT 06513
Description
Investor's Dream! This rare 9-unit multifamily property in the heart of Fair Haven presents an incredible opportunity for investors seeking value-add potential and significant upside. Each oversized unit features ample natural light, along with updated kitchens and bathrooms. Some units are equipped with high-efficiency Navien Systems, ensuring lower operating costs. All utilities are separate and tenant-paid, which enhances cash flow potential. With several units rent-ready and actively being marketed, market rent projections in the area show excellent returns-1-bedroom units renting for $1,350/month and 2-bedrooms for $1,600/month. This property is primed for immediate cash flow with significant upside. The current highest closed comparable sale within 2 miles is an 8-unit building that sold for $1.88M, proving the strength of the local market. Located just minutes from State St, I-91, I-95, and Yale University, this property is ideally situated for tenants who want easy access to all that New Haven has to offer. Also, given the large square footage, high demand for rental housing, and desirable location, this asset offers substantial room for appreciation through renovations, rent increases, or leasing out the remaining vacant units.Don't miss out on this unique chance to invest in a thriving market with value-add opportunities and strong returns!
Details
| Mls | 24041226 |
|---|---|
| Listing Type | For Sale |
| Style | Attachd |
| Status | Active |
| Year | 1910 |
| Days On Site | 108 |
| Listing Provided By | Berkshire Hathaway NE Prop. | Lisa Cozzi |
Features
| Beds | 15 |
|---|---|
| Baths | 9 Total |
| Sq Feet | 7,716 |
| Basement | Y |
| Units | 9 |
| Zoning | RM2 |
| Acreage | 0.14 |
| Water Front | Yes |
Market Activity 06513
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Learn More About This Property
| State | CT |
|---|---|
| County | New Haven |
| City | New Haven |
| Zip Code | 06513 |
| Area | New Haven |
| School District | Per Board of Ed |
| Elementary School | Per Board of Ed |
| Listing VS Median (in 06513) | |
Price: $1,250,000 low | high Med: $278,900 SqFt: 7,716 low | high Med: 1,252 $ / SqFt: $162 low | high Med: $223 On Site: 108 low | high Med: 2.000000 | |