Historical Multifamily Sale Listing - Georgetown Apartments

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Georgetown Apartments

241 Quinnipiac Avenue, New Haven, CT 06513

N/A

32 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
32
Building Size:
28,672 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
7.90%
Occupancy:
95%
Lot Size:
2.03 AC
Listing ID
16436457
Last Updated
over 1 year ago

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.

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

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Created 10/17/2009