384 Davenport AveNew Haven, CT 06519

This exceptional Class A, 194-unit apartment building opportunity is situated on a 1.99-acre lot in New Haven, Connecticut, at 384 Davenport Ave, zip code 06519. Boasting a total of 188,150 square feet, this five-story building offers a compelling mix of 72 studio, 88 one-bedroom, 26 two-bedroom, and 8 three-bedroom units. The asking price is $4,500,000, translating to $23.92 per square foot. Approved plans include a comprehensive amenity package featuring elevators, a fully equipped fitness center, an inviting interior courtyard, an outdoor amenity deck, and ample bicycle parking. The current unit mix and amenities are easily modifiable by a new owner without requiring further approvals. This property benefits from its strategic location, just 0.7 miles from Yale New Haven Hospital and the Yale School of Medicine, making it highly attractive to graduate students, hospital staff, and downtown professionals. The strong and projected rent growth in the downtown New Haven market, coupled with the property's proximity to dining and entertainment options, ensures a robust rental income stream. The property's potential as an affordable housing development further enhances its investment appeal. This is a rare opportunity to acquire a well-positioned, high-potential multifamily asset in a thriving Connecticut market. The property consists of nine parcels of land.