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32621707
32621728

40-44 Briarwood Lane, Branford, CT 06405

LC
CT CT REB.0789668, MA MA REB.0789668 (+3)
Century 21 Allpoints Realty Southington
Listed by Century 21 Allpoints Realty Southington
$4,000,000
27 days on market
Updated 18 days ago

40-44 Briarwood Lane

Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 18,705
Cap Rate 6.50%
NOI $258,801
Tenancy Multi
Pro-Forma Cap Rate 7.00%
Pro-Forma NOI $279,036
Class B
Year Built 1969
Buildings 1
Acreage 3.640
Zoning MF
Investment Type Stabilized

Garden Apartments | Affluent Shoreline Submarket

Marketing description

Welcome to the Evergreen Court Apartments - an 18-unit brick garden-style community in Branford's thriving shoreline rental market! This well-maintained three-story building features a great unit mix of 15 two-bedrooms and 3 one-bedrooms, with interiors updated throughout the years - bright kitchens, refreshed baths, and modern finishes that command solid Class-B rents! All tenant-paid electric utilities contribute to a lean expense profile and make for a clean, easy-to-operate asset. Find upside ahead through continued unit upgrades, mark-to-market on remaining below-market rents, and the opportunity to add outdoor amenities like a dog park, patio, or resident gathering space. Coin-op laundry, basement tenant storage, and two parking spots per unit round out the appeal! Tenants love the quiet residential setting on over 3 acres, with direct I-95 access, Metro-North Shore Line East rail nearby, and a short drive to New Haven, Yale, and shoreline employment hubs. Plus, it's a mile to the beach and less than two to Branford Green! Branford's historically low vacancy and durable renter base make this a fantastic addition to any portfolio.

Investment highlights

  • 18-unit brick garden-style community in shoreline submarket
  • Predominantly 2BD unit mix (15 × 2BD/1BA + 3 × 1BD/1BA)
  • Tenant-paid electric — individually metered heat & hot water
  • Direct I-95 access; minutes to New Haven & Yale employment hubs
  • Historically low vacancy on Connecticut shoreline Class-B inventory
  • Updated interiors commanding market rents; clear value-add runway
  • Ancillary income from coin-op laundry & basement storage
  • 2 parking spots per unit
  • Value-add upside: outdoor amenities (dog park, patio, gathering spaces)
  • Stable expense ratio and clean operational profile
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Listing Contacts

LC
CT CT REB.0789668, MA MA REB.0789668 (+3)
Century 21 Allpoints Realty Southington
Listed by Century 21 Allpoints Realty Southington

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$258,801.00
$21,566.75/mo

Valuation Metrics

0
DSCR
6.47%
Cap Rate
6.47%
ROI

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Additional Information

Name
Lisa Cozzi
License
CT REB.0789668
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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