522 Elm Street, New Haven, CT 06511
522 Elm Street, New Haven, CT 06511
522 Elm Street, New Haven, CT 06511
522 Elm Street, New Haven, CT 06511
522 Elm Street, New Haven, CT 06511
522 Elm Street, New Haven, CT 06511
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Ilka Torres

Ilka Torres

+1(860) 697-9971
$ 1,419,000
Est. payment | /mo

8 Beds

9 Baths

5,222 SqFt

Save
$ 1,419,000
Est. payment | /mo
Save

8 Beds

9 Baths

5,222 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 5,222 sqft

Price per Sqft $271

MLS Listing ID 24207540

Style 3updown - Unit(s) per Floor

Bedrooms 8

Full Baths 9

Year Built 1900

Annual Tax Amount $22,611

Lot Size 4,356 Sqft

Property Sub-Type 5 Family+

Property Description

Renovated 9-Unit Multifamily | 8 of 9 Occupied | ~7.63% Stabilized Cap | ~9.0% Pro Forma Cap | Near Yale New Haven Hospital 522 Elm Street offers an opportunity to acquire a newly renovated 9-unit multifamily property on a corner lot near Yale New Haven Hospital and downtown New Haven. Featuring 2 studios, 6 one-bedroom units, and 1 two-bedroom unit, the property is currently 8 of 9 occupied with immediate lease-up potential. Extensively renovated units feature hardwood flooring, bright layouts, updated kitchens with quartz countertops, modern cabinetry, and stainless steel appliances. Electric heat, natural gas hot water, and gas cooking. Tenants pay individual gas and electric; landlord pays water/sewer and common electric. Additional income potential through installation of coin-operated laundry in the basement. Conveniently located near Yale New Haven Hospital, Yale University, downtown, and the major Adams Neurosciences Center expansion at the Saint Raphael Campus. Strong rental income with significant upside! Approximately 7.63% stabilized cap based on projected lease-up and a potential 9.0% pro forma cap upon achieving projected market rents. Buyer to verify all income, expenses, and projections.

Location

State CT

County New Haven

Zoning RM2

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard

Cooling Window Unit

Exterior

Parking Features Paved, Off Street Parking

Waterfront Description Not Applicable

Roof Type Other

Building

Lot Description Corner Lot, Level Lot

Foundation Concrete

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

High Schools Per Board Of Ed

Listed by Jeffrey Puciato • Puciato Altieri Realty Group
Nearby Locations

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Ilka Torres
Ilka Torres

Broker License ID: REB.0794005

+1(860) 697-9971

1939 Broad St, Hartford, CT 06114, USA

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522 Elm Street