151 Fitch St - Apartments FOR SALE


New Haven, CT 06515- Beaver Hills
$1,975,000 USD
917-946-5425
151 Fitch St, New Haven, CT for Sale
$1,975,000 USD
Apartments - FOR SALE
1/13
null | 7.09% Cap Rate

151 Fitch St
New Haven, CT 06515
Beaver Hills


HIGHLIGHTS

  • 0.2 miles from SCSU, under 2 miles from Yale, and minutes from downtown, hospitals, and major transit
  • 6 exceptionally large units spread across 4 buildings
  • Offered at $1,975,000 with a strong 7.09% current cap rate
  • Upside via renovations, adding in-unit laundry, charging for parking, and expanding the parking lot

OVERVIEW

National Multifamily is pleased to present 151 Fitch Avenue, a 6-unit multifamily investment opportunity located in New Haven, Connecticut. The property consists of six residential units across four buildings on a single lot and offers convenient access to I- 95, Tweed New Haven Airport, downtown New Haven, and New Haven Union Station, with service to the Metro-North, Amtrak, Shore Line East, and the Hartford Line. The property benefits from New Haven's strong renter demand, supported by the city's employment centers, universities, and healthcare institutions. The property contains 12,880 rentable square feet across four residential buildings and was originally constructed in 1900. Situated on a 0.50-acre parcel, the site features 12 off-street parking spaces and benefits from a sizeable lot with ample outdoor space for tenant use. The buildings are comprised of six residential units, four of which are 6-bedroom/4-bathroom units and two free standing 3-bedroom/2-bathroom units, resulting in exceptionally larger than average unit sizes. The combination of substantial rentable square footage, oversized units, and a low-density multi-building layout distinguishes the property from traditional multifamily offerings in the New Haven market. The investment offers several value-add opportunities, including renovating units as they turn over, installing laundry machines to utilize the existing washer and dryer hookups, and generating additional income through tenant-paid parking. Investors may also explore paving a portion of the rear lot to create additional parking spaces and further enhance revenue.

FOR SALE DETAILS

PRICE

$1,975,000 USD

PRICE/SF

$99 USD /SF

# OF UNITS

6

PRICE/UNIT

$329,167

CAP RATE

7.09%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

NHVN-000356-001150-000201

ASK ABOUT THIS PROPERTY

Matt CawleyNational MultifamilyMore Info
917-946-5425

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Matt CawleyNational MultifamilyMore Info
917-946-5425

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