1158 Dixwell Ave - Apartments FOR SALE


Hamden, CT 06514
$4,750,000 USD
203-335-5117
1158 Dixwell Ave, Hamden, CT for Sale
$4,750,000 USD
Apartments - FOR SALE
1/16
null | 7.13% Cap Rate

1158 Dixwell Ave
Hamden, CT 06514


HIGHLIGHTS

  • Excellent location on main retail corridor of Hamden, CT
  • Desirable apartment mix of one-, two-, and three-bedroom units that appeal to a broad tenant base while maximizing space and functionality
  • Major upgrades to include: new boilers & furnaces, extensive improvements to roofing and sewer lines, and cosmetic upgrades to select units
  • A new owner is positioned to unlock significant rent growth through strategic unit upgrades, capitalizing on in-place rents that remain below market
  • Rooftop cell tower leases with national providers AT&T and Dish Network on five year leases

OVERVIEW

Baldwin Pearson & Co., Inc. is pleased to present 1158 Dixwell Avenue, Hamden, Connecticut, to the market. This prominent mixed-use property is positioned at a highly visible, heavily trafficked intersection on Dixwell Avenue in Hamden, CT, making it an exceptional opportunity for investors seeking stable income with strong upside potential. The asset consists of 20 residential apartments situated above 13 ground-floor commercial units, creating a well-balanced income stream. In addition, the rooftop is an approved site by two national cell providers, AT&T and Dish Network on five year leases with design drawings approved and finalized and payments expected to begin soon. The retail spaces benefit from excellent street frontage and visibility, making them well suited for a wide range of tenant uses.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

35

PRICE/UNIT

$135,714

CAP RATE

7.13%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1932

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

B-1

APN/PARCEL ID

HAMD-002225-000617

ASK ABOUT THIS PROPERTY

Robert ShawahBaldwin Pearson & Company, Inc.More Info
203-335-5117

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Robert ShawahBaldwin Pearson & Company, Inc.More Info
203-335-5117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.