3-Unit Triplex with
115 West Elm, New Haven, CT 06515
For Sale
New
$790,000
Each residence has its own washer and dryer, replacement windows, and separate utilities.
Property Size1,925 SF
Price / SF$214.91
Days on Market7
Property Features for 115 West Elm
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Lease Term
Site & Location
Neighborhood
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Betsy Grauer Realty, Inc
(203) 787-3434
Listed By:
Anne Marseille · License #REB.0793243
(203) 506-3875
Source:
Iverty
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 4:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Betsy Grauer Realty, Inc
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Investment Insights
Based on property information with market context.
Built in 1925, this 3,676-square-foot triplex contains three residences with hardwood floors and original woodwork. Kitchens and bathrooms have been updated, and each unit features replacement windows, ceiling fans in the kitchen and two bedrooms, and its own washer and dryer. Utilities are separately metered for the units. A three-car garage and off-street parking for four vehicles serve the property.
The property is within walking distance of Westville Center, Edgewood Park, and the Sunday farmers market. Yale University, Yale Hospital, and SCSU are also nearby.
The property is within walking distance of Westville Center, Edgewood Park, and the Sunday farmers market. Yale University, Yale Hospital, and SCSU are also nearby.
Key Highlights
- Three‑unit residential property built in 1925, totaling 3,676 square feet
- Three‑car garage plus off‑street parking for 4 vehicles
- Each unit has a washer and dryer, with separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,874
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,480
$1.2M
Cap Rate 7%
$883,914
$883.9K
Cap Rate 9%
$687,489
$687.5K
Market Conditions
NOI Build-Up for 3,676 SF
Gross rent
$94.8K $25.80/SF
− Vacancy
−$6.4K −$1.75/SF
EGI
$88.4K $24.05/SF
− OpEx
−$26.5K −$7.21/SF
NOI
$61.9K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,480
Cap Rate 7%
$883,914
Cap Rate 9%
$687,489
Alternative Uses
Best Use
Multifamily LT 5
$883.9K
$773.4K – $1.03M
NOI $61,874 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$822.5K
$719.7K – $959.6K
NOI $57,576 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,774 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
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Business Placement
Demographics for 06515, CT
17,877
Population
7,531
Households
2.4
Avg Household Size
33
Median Age
48%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
3,886
Density / Sq Mi
$74,044
Median Household Income
$40,209
Median Earnings
$1,410
Median Rent
$284,200
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in New Haven, CT
Properties on Market for Triplexes in New Haven
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own washer and dryer, replacement windows, and separate utilities.
Where is this triplex located?
The property is located at 115 West Elm New Haven, CT.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1925, totaling 3,676 square feet; Three‑car garage plus off‑street parking for 4 vehicles; Each unit has a washer and dryer, with separate utilities
