151 Fitch St 6 Unit Apartment Building $1,975,000 ($329,167/Unit) 7.09% Cap Rate New Haven, CT 06515

National Multifamily is pleased to present 151 Fitch Avenue, a 6-unit multifamily investment opportunity located in New Haven, Connecticut. The property consists of six residential units across four buildings on a single lot and offers convenient access to I- 95, Tweed New Haven Airport, downtown New Haven, and New Haven Union Station, with service to the Metro-North, Amtrak, Shore Line East, and the Hartford Line. The property benefits from New Haven's strong renter demand, supported by the city's employment centers, universities, and healthcare institutions.
The property contains 12,880 rentable square feet across four residential buildings and was originally constructed in 1900. Situated on a 0.50-acre parcel, the site features 12 off-street parking spaces and benefits from a sizeable lot with ample outdoor space for tenant use. The buildings are comprised of six residential units, four of which are 6-bedroom/4-bathroom units and two free standing 3-bedroom/2-bathroom units, resulting in exceptionally larger than average unit sizes. The combination of substantial rentable square footage, oversized units, and a low-density multi-building layout distinguishes the property from traditional multifamily offerings in the New Haven market.
The investment offers several value-add opportunities, including renovating units as they turn over, installing laundry machines to utilize the existing washer and dryer hookups, and generating additional income through tenant-paid parking. Investors may also explore paving a portion of the rear lot to create additional parking spaces and further enhance revenue.