USMF is pleased to exclusively present Arches 132. This 11 unit mixed-use property is comprised of 10 multifamily apartments and 1 anchor retail/restaurant. The property is located in Downtown New Haven with-in a prime rental neighborhood for Yale students and young professionals.
All tenants are responsible for their own utility consumption. The ground floor retail is responsible for half of all the property expenses induing taxes, insurance, maintenance and management fees.
The property benefits from high renter demand as units rarely stay vacant. The building has a low maintenance over head and is in turnkey condition suitable for new ownership to come in and capitalize on current cashflows. Rents are 10-20% below market allowing for new ownership to raise rents in New Haven's resilient renter market. The building has seen recent capital improvements, including but not limited to, newer kitchens, bathrooms, common areas and mechanicals.
Situated on New Haven's Temple street the property sees high foot traffic and is a short walk away from Yale University, The New Haven Green, I-95, I-91 & New Haven MTA Stations.