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241 Quinnipiac Avenue, New Haven, CT 06513
32 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 28,672 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Commission Split:
- Cap Rate:
- Lot Size:
- 2.03 AC
- Listing ID
- Last Updated
- over 1 year ago
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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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P