This Multifamily Property is Off-Market.

241 Quinnipiac Avenue
New Haven, CT 06513 ·

32 Units · Multifamily For Sale

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Georgetown Apartments

Price N/A Property Use Type Investment
No. Units 32 Commission Split 2%
Building Size 28,672 SF Cap Rate 7.90%
Property Type Multifamily Occupancy 95%
Property Sub-type Garden/Low-Rise Lot Size 2.03 AC
Listing ID: 16436457 Date Created: 10/17/2009 Last Updated: 10/17/2009

Description

32 Townhouse Units w/ 2BR 1.5 Bath. 2009 Rental Rates $1,100.00 - $1,150.00. Units Recenlty Renovated. All New N/G Heating Equipment.

GEORGETOWN APARTMENTS IS A 32 UNIT RESIDENTIAL COMPLEX DEVELOPED IN 1962 BY ITS CURRENT OWNER, NEW HAVEN
ATTORNEY/REAL ESTATE DEVELOPER RICHARD LORICCO. THE LORICCO' S HAVE PERSONALLY MANAGED AND METICULOUSLY
MAINTAINED THE PROPERTY FOR 47 YEARS AND CONTINUE TO DO SO TODAY.
THE MAJORITY OF THE 32 UNITS HAVE BEEN RECENTLY RENOVATED AND ALL THREE BUILDINGS HAVE HAD NEW HIGH EFFICIENCY
HEATING EQUIPMENT INSTALLED WITHIN THE PAST 2 YEARS. NEW ROOF STRUCTURES OVER EACH ENTRY WERE CONSTRUCTED
DURING THE SUMMER OF 2008. SIDE AND REAR SIDEWALKS OF BUILDING 2 WERE REPLACED SPRING 2008.
GEORGETOWN APARTMENTS MAINTAINS REGULAR OCCUPANCY RATES OF APPROXIMATELY 95%. ALL NEW LEASES ARE YIELDING
$1,150.00/MONTH. TENANTS ARE PROVIDED HEAT, HOT & COLD WATER AND NATURAL GAS FOR COOKING. ELECTRICAL SERVICE IS
METERED INDIVIDUALLY AND THE RESPONSIBILITY OF EACH INDIVIDUAL TENANT.

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241 Quinnipiac Avenue, New Haven, CT 06513 (New Haven County)

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