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88 Cove St - 86-88 Cove St 4 Unit Apartment Building Offered at $1,950,000 at a 6.26% Cap Rate New Haven, CT 06512
Investment Highlights
- Direct Waterfront
- 4 car garage for additional income
- Local attractions for short term and vacation rental
- Owner Financing Available
Executive Summary
Welcome to 86-88 Cove Street, a rare direct waterfront four-unit building in New Haven's Cove neighborhood overlooking the seawall and Long Island Sound. This well positioned property offers a unique opportunity for both investors and owner-occupants seeking a strong income-producing asset and may be best served as a short term rental due to it's proximity to event spaces and downtown New Haven. Units feature beautiful hardwood floors, forced hot air with central air conditioning for year-round comfort, and private balconies overlooking the water and fireplaces. Bathrooms in the units have all been remodeled. 88A and 86A units have been remodeled. The building also includes a four-car garage, providing valuable parking and storage space. With its combination of location, character, and water frontage, this property is a standout multi-family offering on the market today. Seller financing available 10% down at 5% IO.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Fireplace
- Ceiling Fans
Site Amenities
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 2 | $4,950 | 1,512 |
| 1+1 | 1 | $2,500 | 635 |
| Studios | 1 | $2,100 | 351 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
30/100
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88 Cove St - 86-88 Cove St
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