66-68 Read St - Apartments FOR SALE


New Haven, CT 06511- Newhallville
$970,000 USD
203-273-5256
66-68 Read St, New Haven, CT for Sale
$970,000 USD
Apartments - FOR SALE
1/7
null | 9.38% Cap Rate

66-68 Read St
New Haven, CT 06511
Newhallville


HIGHLIGHTS

  • This 6-unit Multifamily property offers a turnkey investment in a prime location in the Newhallville neighborhood of New Haven.
  • This exceptional location places tenants amidst quality residential neighborhoods with walkable tree-lined streets.
  • The building features off-street parking and recent capital improvements to the exteriors and interiors.
  • More than 252,000 residents live within 5 miles of the property, with over 58% currently renting their homes.

OVERVIEW

This 6-unit Multifamily property offers a turnkey investment in a prime location in the Newhallville neighborhood of New Haven. The property is a short distance from Yale University, Albertus Magnus School, Downtown New Haven, and major metropolitan transportation hubs like I-95 and New Haven MTA Station. Quality features include off-street parking and recent capital improvements to the exterior and interior of the property. All tenants are responsible for their own utilities. New Haven is a strong renter market with growth in population, development, and rents across the city. More than 23,000 students call the city home, delivering consistent demand for rental properties in the area. More than 58% of the 252,000 residents living within five miles of the property currently rent their home, driving rent growth in the submarket of 2.3% year over year. Rents in the area are some of the highest in the region, sitting almost 15% above the greater market average.

FOR SALE DETAILS

PRICE

$970,000 USD

PRICE/SF

$174 USD /SF

# OF UNITS

6

PRICE/UNIT

$161,667

CAP RATE

9.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

RM1

APN/PARCEL ID

NHVN-000253-000506-000800

ASK ABOUT THIS PROPERTY

203-273-5256

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203-273-5256

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