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    Turn-Key 6-Unit Multifamily Property Title is generated by Realmo AI

    177 Chestnut Street, New Haven, CT 06511

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    For Sale
    $2,400,000

    MULTI_FAMILY - New Haven, CT

    Property size:
    6,009 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $399/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 177 Chestnut Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM2
    Bedrooms
    16
    Bathrooms
    12
    Rooms
    Bedroom 6, Bedroom 12, Bathroom 7, Bathroom 9, Bedroom 11, Bathroom 5, Bedroom 14, Bathroom 12, Basement, Bedroom 4, Bedroom 15, Bedroom 13, Bedroom 8, Bathroom 8, Bathroom 6, Bathroom 1, Bedroom 10, Bedroom 9, Bathroom 3, Bathroom 4, Bathroom 10, Bedroom 16, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 11, Bedroom 1, Bathroom 2, Bedroom 7
    Parking
    5
    Basement
    Full, Unfinished
    Standard status
    Active
    Size
    6,009 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    22618

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Architectural style
    Other

    We can help!

    Listing Contact
    Arian Hoxha

    Listing agent Arian Hoxha License #RES.0815860

    Listing office Serhant Connecticut, LLC 500 W Putnam Avenue, New York, CT

    Listing date Jun 4, 2026

    MLS# 24181250 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 6,009 SF 6‑unit multifamily building in New Haven’s Wooster Square neighborhood
    • Central air cooling and hot water heating; public water and public sewer
    • Multiple bedrooms and bathrooms per unit layout (rooms list includes 16 bedrooms and 12 bathrooms plus basement)
    • Fully renovated with modern kitchens and renovated bathrooms
    • 5 off‑street parking spaces
    • Close to Downtown New Haven, Yale University, Yale New Haven Hospital, Union Station, I‑95, and I‑91

    Overview

    This turn-key 6-unit multifamily property is offered for sale as a fully renovated, fully leased asset. The approximately 6,009 SF building includes updated unit finishes, with modern kitchens, renovated bathrooms, and contemporary layouts designed to appeal to today’s renters. With long-term tenants in place, the property is presented in a stabilized operating condition.

    Located at 177 Chestnut Street in New Haven, Connecticut, the building sits in a RM2 zoning area and provides five off-street parking spaces. The surrounding area supports walkable access to Wooster Square Park and local restaurants, shopping, and entertainment. The remarks also note proximity to major employment and education destinations, including Downtown New Haven, Yale University, Yale New Haven Hospital, Union Station, and interstates I-95 and I-91, as well as rail service with access to New York City.

    For investors seeking a manageable, turn-key multifamily offering, the key factors here are the renovated unit interiors and the fact that the property is fully leased with long-term tenants already installed. As presented, this is a residential income property designed for immediate ownership with an emphasis on ongoing occupancy and day-to-day stability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.915472
    Latitude
    41.306247

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    FAQs

    What type of property is this?
    Apartment building - Turn-key 6-unit multifamily building with renovated interiors and five off-street parking spaces.
    Where is this apartment building located?
    The property is located at 177 Chestnut Street New Haven, CT.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Approximately 6,009 SF 6‑unit multifamily building in New Haven’s Wooster Square neighborhood; Central air cooling and hot water heating; public water and public sewer; Multiple bedrooms and bathrooms per unit layout (rooms list includes 16 bedrooms and 12 bathrooms plus basement)
    (203) 558-4798
    We can help!
    Listing Contact
    Arian Hoxha
    Real Estate License ID: RES.0815860
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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