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Chapel Street Multifamily Investment

1476 Chapel St, New Haven, CT 06511

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For Sale

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18-unit multifamily property in New Haven, Connecticut.

Type:Multifamily

Property size:

16,189 SF

Lot size:

0.21 Acres

Price / SF:

$185/SF

HighLights

Prime location in New Haven, CT, directly across from Yale New Haven St Raphael’s Campus new neuroscience facility (opening 2027).
18‑unit multifamily investment property in a resilient rental market.
Significant renovations already completed on 15 of 18 units, offering a largely turnkey asset.
Potential to create a 19th unit in the basement.
11 units converted to tenant‑paid electric heat, reducing landlord utility expenses.
Excellent access to transportation: Union Station (Metro‑North to NYC), I‑95, I‑91, Merrit Parkway, and Route 34.

We can help!

Contact an agent

Jeff Wright

For Sale

Contact for pricing

18-unit multifamily property in New Haven, Connecticut.

Type:Multifamily

Property size:

16,189 SF

Lot size:

0.21 Acres

Price / SF:

$185/SF

Added:: Mar 10, 2026
Days on Market:: 121
Last Refresh:: Jun 26 at 9:47 am

Property Features for 1476 Chapel St

General Information

Standard status: Active
Size: 16,189 SF
Lot size: 0.21 Acres
Property subtype: Multifamily

We can help!

Contact an agent

Jeff Wright

Listing office NorthEast Private Client Group Shelton

Listing date Mar 10, 2026

Source Crexi

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 NorthEast Private Client Group Shelton

HighLights

Prime location in New Haven, CT, directly across from Yale New Haven St Raphael’s Campus new neuroscience facility (opening 2027).
18‑unit multifamily investment property in a resilient rental market.
Significant renovations already completed on 15 of 18 units, offering a largely turnkey asset.
Potential to create a 19th unit in the basement.
11 units converted to tenant‑paid electric heat, reducing landlord utility expenses.
Excellent access to transportation: Union Station (Metro‑North to NYC), I‑95, I‑91, Merrit Parkway, and Route 34.

Overview

This 18-unit multifamily investment property is located in New Haven, Connecticut. The three-story brick masonry building has 16,189 square feet of gross living area and is situated on 0.21 acres along Chapel Street. The property is located across from Yale New Haven St Raphael’s Campus new neuroscience facility, set to open in 2027. It offers accessibility to Yale University, Yale New Haven Hospital, and New Haven’s retail, dining, and cultural amenities. Union Station, with Metro-North rail service to New York City, is nearby, as are I-95, I-91, the Merrit Parkway and Route 34. Fifteen of the eighteen units have been renovated. There is a potential 19th unit in the basement that can be brought back to code with updates. Eleven of the units have been converted to tenant-paid electric heat.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$491.5k	$30.36
− Vacancy	−$30.5k	−$1.88
EGI	$461.0k	$28.48
− OpEx	−$207.5k	−$12.81
NOI	$253.6k	$15.66

16,189 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.62M

$3.17M – $4.23M (±1% cap)

NOI $253,564 @ 7.0% cap · market cap 8.47%

Second Best

—

no second resolved use

Theoretical Best

Office A

$5.21M

$4.56M – $6.08M (±1% cap)

NOI $364,532 @ 7.0% cap · market cap 12.17%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: New Haven
County: New Haven
State: Connecticut
Longitude: -72.9450958
Latitude: 41.3113021

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For sale
Apartment buildings
CT
New Haven
06511
1476 Chapel St

What type of property is this?

Apartment building - 18-unit multifamily property in New Haven, Connecticut.

Where is this apartment building located?

The property is located at 1476 Chapel St New Haven, CT.

What is the asking price?

The asking price for this property is $2,995,000.

What are key features of this property?

This property features: Prime location in New Haven, CT, directly across from Yale New Haven St Raphael’s Campus new neuroscience facility (opening 2027).; 18‑unit multifamily investment property in a resilient rental market.; Significant renovations already completed on 15 of 18 units, offering a largely turnkey asset.