15 Colby Ct 4 Unit Apartment Building $1,750,000 ($437,500/Unit) 9.14% Cap Rate New Haven, CT 06515

This newly constructed four-unit townhome asset presents a rare opportunity to acquire a modern, core-plus multifamily property in the New Haven market. Built by a reputable local developer, the property is being offered as a single investment asset and is ideally suited for investors seeking stable long-term cash flow with future upside potential.
Each of the four townhome-style units spans approximately 2,500 square feet and is thoughtfully configured with 4 bedrooms and 3.5 bathrooms. Designed to appeal to both owner-occupants and high-quality tenants, each residence features hardwood flooring, tiled bathrooms, central air conditioning, stainless steel appliances, and in-unit laundry. Private outdoor decks and one-car garages further enhance livability and tenant appeal.
Operational efficiency is supported through separate utility metering for each unit, allowing for straightforward expense allocation and simplified management. The property also includes guest parking, adding convenience and functionality for residents.
A condominium association has not been established, and the property will transfer as a single asset. However, a future condominium conversion may provide additional strategic flexibility and potential value enhancement, depending on investor objectives and market conditions.
Located within approximately 7 minutes of Southern Connecticut State University, 10 minutes of Yale University, and 11 minutes of the University of New Haven, the asset benefits from strong and consistent rental demand driven by students, faculty, and medical professionals.
Projected market rents are estimated at $4,500 per unit per month, supporting a projected gross annual income of approximately $216,000 based on current market assumptions.