multifamily
116 Old Foxon Road
East Haven, Connecticut 6513
Price
$899,000
Price/SF
$267.24/SF
Building Size
3,364 SF
Lot Size
0.34 acres
Year Built
1920
Units
6
Property Description
A 6-unit multifamily offering strong in-place income plus immediate upside through lease-up. Current rents: Unit 1-$1,300, Unit 2-$1,550, Unit 3-$1,300, Unit 6-$1,375; Units 4 (1BR) and 5 (2BR) are empty. In-place gross: $5,525/mo with pro-forma potential up to ~$8,925/mo (market rent: Unit 4-$1,550 and Unit 5-$1,850). Located in a Class A neighborhood in the desirable Foxon area, close to I-95 & Route 1, shopping, dining, and minutes to downtown New Haven/Yale and East Haven beaches/parks. With lease-up alone, this can be positioned to achieve an 8-cap, making it an ideal value-add play with strong long-term fundamentals.
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Additional Details
Zoning
R-2
MLS Number
24155329
Property ID
2c444dba-82f7-4eca-9dce-7f015fdcdc0e
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MLS Information
MLS#: 24155329
Listed by: Roundtree Realty LLC
Agent: Javyn Roundtree • (475) 227-4312 • javyn@roundtreerealty.net
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