527 Chapel Street, New Haven, CT 06511
527 Chapel Street, New Haven, CT 06511
527 Chapel Street, New Haven, CT 06511
527 Chapel Street, New Haven, CT 06511
527 Chapel Street, New Haven, CT 06511
527 Chapel Street, New Haven, CT 06511
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Leah Georgens

Leah Georgens

+1(860) 884-7161
$ 3,899,999
Est. payment | /mo

24 Beds

16 Baths

14,692 SqFt

Save
$ 3,899,999
Est. payment | /mo
Save

24 Beds

16 Baths

14,692 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family+

Listing Status Active

Purchase Type For Sale

Square Footage 14,692 sqft

Price per Sqft $265

MLS Listing ID 24206633

Style Units on different Floors,Units are Side-by-Side

Bedrooms 24

Full Baths 16

Year Built 1890

Annual Tax Amount $63,732

Lot Size 7,840 Sqft

Property Sub-Type 5 Family+

Property Description

Exceptional opportunity to acquire a 16-unit multifamily property in the heart of Wooster Square. This approximately 14,692 SF brick building features a desirable unit mix of eight 1-bedroom and eight 2-bedroom apartments. The property currently generates $29,750 per month in in-place rental income, excluding two vacant units that provide immediate lease-up potential. At projected rents of $1,900 and $2,250 for the vacant units, total potential rental income is approximately $33,900 per month / $406,800 annually. The property offers additional value-add potential through continued unit improvements, rent optimization as leases turn over, and expansion of in-unit laundry. Nine of the sixteen units currently feature in-unit laundry. Separate utilities and natural gas heat help minimize owner-paid expenses. Parking is available nearby through the St. Andrew's Society for an additional fee, subject to availability and separate arrangement, providing tenants with a convenient parking in this highly walkable neighborhood. Ideally situated near Wooster Square Park, Downtown New Haven, Yale University, restaurants, public transportation, and major highways, 527 Chapel Street offers investors a compelling combination of strong in-place income, immediate lease-up opportunity, and long-term value-add potential. 16 Units * 8 One-Bedrooms * 8 Two-Bedrooms * 14,692 SF * 9 Units with In-Unit Laundry * $29,750/Month In-Place Rent * $33,900/Month Potential. Agent/Owner.

Location

State CT

County New Haven

Zoning RM2

Rooms

Basement Full

Interior

Heating Gas on Gas, Hot Water

Cooling Wall Unit

Exterior

Waterfront Description Not Applicable

Roof Type Flat

Building

Lot Description City Views

Foundation Concrete

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Per Board Of Ed

High Schools Per Board Of Ed

Listed by Joseph Tracey • Social & Co Realty
Leah Georgens

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(860) 884-7161

leahgeorgens@gmail.com

351 Broad St., New London , Connecticut 06320, USA

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527 Chapel Street