373 Blatchley Avenue, New Haven, Connecticut

$1,250,000

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15

Beds

9

Baths

7,716

Square feet

0.14

Acres

About 373 Blatchley Avenue

Investor's Dream! This rare 9-unit multifamily property in the heart of Fair Haven presents an incredible opportunity for investors seeking value-add potential and significant upside. Each oversized unit features ample natural light, along with updated kitchens and bathrooms. Some units are equipped with high-efficiency Navien Systems, ensuring lower operating costs. All utilities are separate and tenant-paid, which enhances cash flow potential. With several units rent-ready and actively being marketed, market rent projections in the area show excellent returns-1-bedroom units renting for $1,350/month and 2-bedrooms for $1,600/month. This property is primed for immediate cash flow with significant upside. The current highest closed comparable sale within 2 miles is an 8-unit building that sold for $1.88M, proving the strength of the local market. Located just minutes from State St, I-91, I-95, and Yale University, this property is ideally situated for tenants who want easy access to all that New Haven has to offer. Also, given the large square footage, high demand for rental housing, and desirable location, this asset offers substantial room for appreciation through renovations, rent increases, or leasing out the remaining vacant units.Don't miss out on this unique chance to invest in a thriving market with value-add opportunities and strong returns!

Features of 373 Blatchley Avenue

MLS® # 24041226
Price $1,250,000
Bedrooms 15
Bathrooms 9.00
Full Baths 9
Square Footage 7,716
Acres 0.14
Year Built 1910
Type Multi-Family For Sale
Sub-Type 5 Family+
Style Units on different Floors
Status Active

Community Information

Address 373 Blatchley Avenue
Area N/A
City New Haven
County New Haven
State Connecticut
Zip Code 06513

Amenities

Parking None
Is Waterfront No
Waterfront Not Applicable
Has Pool No

Interior

Heating Hot Water, Natural Gas
Cooling None
Fireplace No
Has Basement Yes
Basement Full, Unfinished, Shared Basement

Exterior

Exterior Vinyl Siding
Lot Description Level Lot
Roof Gable, Tile
Foundation Concrete

School Information

Elementary Per Board of Ed
High Per Board of Ed

Additional Information

Date Listed August 22nd, 2024
Days on Market 177
Zoning RM2
RE / Bank Owned No

Listing Details

OfficeBerkshire Hathaway NE Prop.

Listing Map

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