1158 Dixwell Avenue Hamden
Large, Brick Mixed Use Property
Marketing description
Baldwin Pearson & Co., Inc. is pleased to present 1158 Dixwell Avenue, Hamden, Connecticut, to the market. This prominent mixed-use property is positioned at a highly visible, heavily trafficked intersection on Dixwell Avenue in Hamden, CT, making it an exceptional opportunity for investors seeking stable income with strong upside potential. The asset consists of 20 residential apartments situated above 13 ground-floor commercial units, creating a well-balanced income stream. The retail spaces benefit from excellent street frontage and visibility, making them well suited for a wide range of tenant uses. This corner property has historically been a hub for telecommunication companies servicing the area and is home to an AT&T cellular tower operated by a national firm. 70% of all future telecom rooftop revenue will be contractually allocated to the new owner, creating another highly valuable truly passive income stream.
Investment highlights
- Desirable apartment mix of one-, two-, and three-bedroom units that appeal to a broad tenant base while maximizing space and functionality
- Ownership has invested heavily in the property, completing major capital upgrades including new boilers and furnaces, extensive improvements to roofing and sewer infrastructure, and full cosmetic renovations to approximately ten apartments
- A new owner is positioned to unlock significant rent growth through strategic unit upgrades, capitalizing on in-place rents that remain below market for this section of Hamden
- Multiple retail units were recently leased to new retail tenants, the property is positioned along one of Hamden’s strongest and most established retail corridors
- Separately metered utilities, improving operational efficiency and reducing landlord expenses
- The private rear parking lot provides approximately 20–25 parking spaces and represents a compelling value-add opportunity to drive incremental NOI through striped spaces and monthly parking rents
- Additional rooftop revenue able to provide durable, passive revenue stream with 70% of all future telecom income allocated to the property owner
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