Updated Four-Unit
For Sale
$599,900
120 Canton St, West Haven, CT 06516
Four one-bedroom residences feature interior renovations, including improvements completed in 2025.
Property Size2,016 SF
Price / SF$297.57
Days on Market208
Property Features for 120 Canton St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$61,080
Highway Access
Yes
Building Details
Year Built
1970
Year Renovated
2025
Buildings
1
Listing Agency:
Houlihan Lawrence WD
Listed By:
Blake Arruda (401) 808-9895 (203) 701-4848 · License #RES.0815162
(401) 808-9895
Source:
Centralconnecticuthomefinder
Added: Mar 23
Changed: Oct 1
Last Checked: Oct 14 at 11:46PM
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 Houlihan Lawrence WD
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Investment Insights
Based on property information with market context.
This four-unit residential income property contains four one-bedroom, one-bathroom residences within a 2,016-square-foot building. Interior renovations include improvements completed in 2025. The property was constructed in 1970 and includes hot water service, window units, and a basement hook-up. R5 zoning applies to the site.
Located at 120 Canton Street in West Haven, the property is positioned near major highways, shopping, and local amenities. The unit configuration provides a consistent four-residence layout within a single building, offering an established multifamily format for ownership or leasing consideration.
Located at 120 Canton Street in West Haven, the property is positioned near major highways, shopping, and local amenities. The unit configuration provides a consistent four-residence layout within a single building, offering an established multifamily format for ownership or leasing consideration.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- 2,016‑square‑foot building constructed in 1970
- Interior improvements completed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,933
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,660
$678.7K
Cap Rate 7%
$484,757
$484.8K
Cap Rate 9%
$377,033
$377.0K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$52.0K $25.80/SF
− Vacancy
−$3.5K −$1.75/SF
EGI
$48.5K $24.05/SF
− OpEx
−$14.5K −$7.21/SF
NOI
$33.9K $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%
$678,660
Cap Rate 7%
$484,757
Cap Rate 9%
$377,033
Alternative Uses
Best Use
Multifamily LT 5
$484.8K
$424.2K – $565.6K
NOI $33,933 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$451.1K
$394.7K – $526.3K
NOI $31,576 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$648.5K
$567.4K – $756.6K
NOI $45,395 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences feature interior renovations, including improvements completed in 2025.
Where is this quadplex located?
The property is located at 120 Canton St West Haven, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units; 2,016‑square‑foot building constructed in 1970; Interior improvements completed in 2025
