

Listed by Century 21 Allpoints Realty Southington
$4,000,000
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
Listing Contacts


Listed by Century 21 Allpoints Realty Southington
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Loan Amount
$0.00
Annual Debt Service
$--
$--
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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