New Listing - 11/04/2024

$385,000 ($147.17 per sqft)

Est. Mortgage $2,047/mo *

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485 East Street, New Haven, CT, 06511

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18 rooms

9 beds

3 Full baths

1900

Units on different Floors

2,616 sqft

This 3-family property, situated directly across from Jocelyn Park, offers a rare chance to acquire a multifamily building in a highly desirable location. Just steps from East St. and State St., tenants will enjoy easy access to local restaurants, bars, and shops, making this a sought-after rental location. Each unit features 2-3 bedrooms with abundant natural light, perfect for attracting quality tenants. Two of the units boast updated kitchens and bathrooms, ready for immediate occupancy or rental. The first unit is currently rented at below-market value, providing clear potential for rent increases and higher cash flow. Investors will recognize the serious upside here-whether you're looking to stabilize the asset with market-rate tenants or owner-occupy and have your mortgage covered by rental income. With updated properties in the area fetching $480k and higher, this is a solid value-add play with significant appreciation potential. Property is being sold as-is, where-is-ideal for savvy investors who understand the potential in New Haven's growing rental market.

Status:

Active

Type:

Multi-family

Units:

Zoning:

RM2

Heating:

Baseboard, Hot Air

Cooling:

None

Basement:

Full, Unfinished, Shared Basement

Acreage:

0.07

Est. Taxes:

$6,069

Assessment

$157,640

Lot Description:

Level Lot

Elementary School:

Per Board of Ed

High School:

Per Board of Ed

Days on Market:

MLS #:

24057738

Community Info

School Info

Walk Score

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485 East Street, New Haven, CT, 06511

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