9
See all 9 photos
$1,250,000
Est. payment /mo
15 BD
9 BA
7,716 SqFt
Active
373 Blatchley Avenue New Haven, CT 06513
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UPDATED:
01/16/2025 08:16 PM
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 7,716 sqft
Price per Sqft $162
MLS Listing ID 24041226
Style Units on different Floors
Bedrooms 15
Full Baths 9
Year Built 1910
Annual Tax Amount $17,833
Lot Size 6,098 Sqft
Property 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!
Location
State CT
County New Haven
Zoning RM2
Rooms
Basement Full, Unfinished, Shared Basement
Interior
Heating Hot Water
Cooling None
Exterior
Parking Features None
Waterfront Description Not Applicable
Roof Type Gable,Tile
Building
Lot Description 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 Jason Diaz • Berkshire Hathaway NE Prop.