48 Dixwell Avenue, New Haven, CT, 06511

Portfolio sale offering a rare investment opportunity at Yale University! Two abutting properties at 48 and 54 Dixwell Avenue, located within a 2-minute walk to Yale's Payne Whitney Gym, a 3-minute walk to Yale's Broadway Shopping District and the Apple Store, and a 4-minute walk to the upcoming Dixwell Plaza - New Haven's newest shopping and entertainment district (see picture). When fully developed consolidated site capable of generating $1 million+ in annual gross income. Opportunity is Ideal for investors seeking high returns, long-term capital appreciation, and an opportunity to engage in ground-up development in one of New Haven's most strategically positioned areas. Serious buyers are required to provide proof of funds (POF) before scheduling property viewings. A fully reconstructed four-story, two-family complex, with a ground-up renovation completed in 2021. Each unit features four bedrooms and two full bathrooms. High-end finishes include walk-in tiled showers, wall-hung toilets, and stainless steel appliances. Top-of-the-line LG Red mini split heating and cooling systems. Two levels white-box finished, offering easy-to-convert space to commercial or additional residential units. Currently fully occupied by Yale athletes, generating a gross monthly income of $11,000 and annual net income of $100,000+. When fully developed, property can generate $700,000+ in gross annual income. Zoning & Development Potential: Only privately owned Dixwell property with the highly sought-after Commercial Gateway District zoning designation, offering significant development advantages as a matter of legal right: No setbacks or parking requirements. Floor Area Ratio (FAR) up to 4.5, for super-high-density development. Potential for constructing a seven-story building at rear of site. The owner has detailed information regarding the property's expansion potential, with a promising outlook for further development, particularly appealing to investors looking to capitalize on the nearby presence of Yale University. Additional Features & Investment Highlights: Utilities, including underground grease trap line for mixed-used development, already installed for 7-story rear building at a cost of $150,000. Windows purchased for the first floor of rear building, totaling $60,000.

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Listing courtesy of Joe Scarpellino, Coldwell Banker Realty Email: joe.scarpellino@cbmoves.com