T. 860-662-6493 text | call
Hello@MaryViHomes.com
Mary Vi crest
Presented by Mary Vi Homes Connecticut
ViBergman, LLC
Licensed in CT as ViBergman, LLC Real Estate Connecticut

522 Elm, New Haven, CT

$1,419,000

8 bedrooms9 full bathrooms5,222 square feet
T. 860-662-6493 text | call
Hello@MaryViHomes.com
Mary Vi crest
522 Elm, New Haven, CT

Overview

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.

Property Details

MLS Number 24207540
List Price 1419000
Status Active
Property Type Multi-Family For Sale
Property Sub Type 5 Family+
Beds Total 8
Baths Full 9
Baths Half 0
Total Rooms 35
Acres 0.1
Year Built 1900
Living Area SQFT Per Public Record 5222
Garage & Parking Paved,Off Street Parking
Style 3updown - Unit(s) per Floor
Basement Description Full,Unfinished
Fireplaces Total 0
Heat Type Baseboard
Heat Fuel Type Electric
Cooling System Window Unit
Water Source Public Water Connected
Sewage System Public Sewer Connected
Direct Waterfront YN 0
Waterfront Description Not Applicable
Nearby Amenities Basketball Court,Medical Facilities,Park,Public Transportation,Walk to Bus Lines
Days on Market 43
T. 860-662-6493 text | call
Hello@MaryViHomes.com
Mary Vi crest
522 Elm, New Haven, CT

If you are interested in this property or would like to learn more, please contact Mary Vi Homes Connecticut at Hello@MaryViHomes.com or by calling 860-662-6493.