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.