Listed by Roundtree Realty
$960,000
116 Old Foxon Rd East Haven
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,364
Net Rentable (SqFt) 3,364
Units 6
Cap Rate 3.82%
NOI $36,660
Occupancy 66.67%
Pro-Forma Cap Rate 8.42%
Pro-Forma NOI $80,792
Price per SqFt $285
Class A
Buildings 1
Stories 3
Acreage 0.340
Zoning R-2
Parking Spaces 8 per unit
Investment Type Value Add
Immediate 7.65% Cap with Lease Up! Pro-Forma 8.5%!
Marketing description
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.
Investment highlights
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).
Listing Contacts
Listed by Roundtree Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$36,660.00
$3,055.00/mo
Valuation Metrics
0
DSCR
3.82%
Cap Rate
3.82%
ROI
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