40 Briarwood Ln - Apartments FOR SALE


Branford, CT 06405
$4,000,000 USD
860-508-2102
40 Briarwood Ln, Branford, CT for Sale
$4,000,000 USD
Apartments - FOR SALE
1/36
null | 6.5% Cap Rate

40 Briarwood Ln
Branford, CT 06405


HIGHLIGHTS

  • Quiet, residential location on 3.5+ acres
  • Brick 1960s construction
  • Affluent shoreline community

OVERVIEW

Welcome to the Evergreen Court Apartments - an 18-unit brick garden-style community in Branford's thriving shoreline rental market! This well-maintained three-story building features a great unit mix of 15 two-bedrooms and 3 one-bedrooms, with interiors updated throughout the years - bright kitchens, refreshed baths, and modern finishes that command solid Class-B rents! All tenant-paid electric utilities contribute to a lean expense profile and make for a clean, easy-to-operate asset. Find upside ahead through continued unit upgrades, mark-to-market on remaining below-market rents, and the opportunity to add outdoor amenities like a dog park, patio, or resident gathering space. Coin-op laundry, basement tenant storage, and two parking spots per unit round out the appeal! Tenants love the quiet residential setting on over 3 acres, with direct I-95 access, Metro-North Shore Line East rail nearby, and a short drive to New Haven, Yale, and shoreline employment hubs. Plus, it's a mile to the beach and less than two to Branford Green! Branford's historically low vacancy and durable renter base make this a fantastic addition to any portfolio.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$213 USD /SF

# OF UNITS

18

PRICE/UNIT

$222,222

CAP RATE

6.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Evergreen Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

40

LAND DETAILS

LAND ACRES

3.64 AC

LAND SF

158,558 SF

ZONING

MF

APN/PARCEL ID

BRAN-000009C-000011-000007

ASK ABOUT THIS PROPERTY

Lisa CozziThe Cozzi TeamMore Info
860-508-2102

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Lisa CozziThe Cozzi TeamMore Info
860-508-2102

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