27
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$1,419,000
Est. payment /mo
8 Beds
9 Baths
5,222 SqFt
New
522 Elm Street New Haven, CT 06511
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Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 5,222 sqft
Price per Sqft $271
MLS Listing ID 24207540
Style 3updown - Unit(s) per Floor
Bedrooms 8
Full Baths 9
Year Built 1900
Annual Tax Amount $22,611
Lot Size 4,356 Sqft
Property Sub-Type 5 Family+
Property Description
Renovated 9-Unit Multifamily | 7 of 9 Occupied | ~7.0% Stabilized Cap | ~9.0% Pro Forma Cap | Near Yale New Haven Hospital 522 Elm Street offers an opportunity to acquire a newly renovated 9-unit multifamily property on a corner lot near Yale New Haven Hospital and downtown New Haven. Featuring 2 studios, 6 one-bedroom units, and 1 two-bedroom unit, the property is currently 7 of 9 occupied with immediate lease-up potential. Extensively renovated units feature hardwood flooring, bright layouts, updated kitchens with quartz countertops, modern cabinetry, and stainless steel appliances. Electric heat, natural gas hot water, and gas cooking. Tenants pay individual gas and electric; landlord pays water/sewer and common electric. Additional income potential through installation of coin-operated laundry in the basement. Conveniently located near Yale New Haven Hospital, Yale University, downtown, and the major Adams Neurosciences Center expansion at the Saint Raphael Campus. Strong rental income with significant upside! Approximately 7.0% stabilized cap based on projected lease-up and a potential 9.0% pro forma cap upon achieving projected market rents. Buyer to verify all income, expenses, and projections.
Location
State CT
County New Haven
Zoning RM2
Rooms
Basement Full, Unfinished
Interior
Heating Baseboard
Cooling Window Unit
Exterior
Parking Features Paved, Off Street Parking
Waterfront Description Not Applicable
Roof Type Other
Building
Lot Description Corner Lot, Level Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Jeffrey Puciato • Puciato Altieri Realty Group
NEARBY SCHOOL & BUSINESS
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