384 Davenport AveNew Haven, CT 06519

Property Details for 384 Davenport Ave

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.43 AC

Property size (Sq ft)

17,376 SF

Zone code

BA

Property type

Showrooms

APN

NHVN M:310 B:0127 L:00700

APU

NHVNM310B0127L00700

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $4,222,974

  6.5%

  $3,898,130

  7%

  $3,619,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,721,278

  Geo Method

  $5,721,278

• Alternative Use

  Use

  Valuation

  Residential

  $3,288,219

  Hospitality

  $3,011,991

  Educational

  $2,505,941

  Medical

  $2,592,124

  Retail

  $3,898,130

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Latitude

41.2987

Longitude

-72.9457

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].