621 Elm StNew Haven, CT 06511

Property Details for 621 Elm St

Year built

1900

Property size (Sq ft)

3,320 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

Exceptional investment opportunity in New Haven, Connecticut's desirable Dwight neighborhood, this three-unit multifamily property at 621 Elm Street offers a compelling blend of location, income potential, and value. The property boasts a total of 3,320 square feet, spread across three stories in a single building constructed in 1900. Each unit features two bedrooms and one bathroom, offering comfortable living spaces for tenants. Currently, one unit commands a monthly rent of $1,100, with a month-to-month lease in place. The remaining two units are vacant and ready for immediate occupancy, presenting an immediate opportunity to increase rental income. Tenant-paid utilities further enhance the property's profitability. The property is free of any rental arrears, providing peace of mind for the new owner. Convenient off-street parking is also available. Situated within the Dwight Street Historic District, close to Pierson College and numerous local shops, this property benefits from a highly desirable location. This asset is priced at $465,000, representing a price per unit of $155,000 and a price per square foot of $140.06. This property is ideal for both owner-occupants seeking a rental income stream and investors looking for a strong return on investment in a thriving New Haven neighborhood.

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Latitude

41.315

Longitude

-72.9418

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