Turnkey 6-Unit Multifamily
177 Chestnut Street New Haven, CT 06511
For Sale
$2,400,000
Fully renovated, fully leased six-unit building with modern interiors and five off-street parking spaces.
Property Size6,009 SF
Price / SF$399.40
Days on Market51
Property Features for 177 Chestnut Street
General Information
- Standard status
- Active
- Size
- 6,009 SF
- Property subtype
- 5 Family+
Building Details
- Year Built
- 1900
Listing Agency:
Serhant Connecticut, LLC
(203) 558-4798
Listed By:
Arian Hoxha · License #RES.0815860
(203) 558-4798
Source:
Lockandkeyre
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 23 at 9:00AM
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 Serhant Connecticut, LLC
Investment Insights
Based on property information with market context.
This turnkey six-unit multifamily property totals approximately 6,009 SF and is described as fully renovated. The units feature updated interiors, including modern kitchens, renovated bathrooms, contemporary finishes, and attractive layouts designed for today’s renters. The offering is noted as fully leased with long-term tenants in place, providing an income-producing structure for an owner seeking immediate occupancy.
Located at 177 Chestnut Street in New Haven’s Wooster Square neighborhood, the property is positioned near Downtown New Haven and major institutions including Yale University, Yale New Haven Hospital, and Union Station. It is also reported to be minutes from I-95 and I-91. Tenants are described as having walkable access to Wooster Square Park and a variety of restaurants, including Frank Pepe’s and Sally’s Apizza, along with shopping, entertainment, and cultural attractions. Direct rail access to New York City is also referenced, supporting resident connectivity.
The building includes five off-street parking spaces, which can be a practical benefit for tenants in a dense urban setting. With its renovated unit mix and fully leased status, the property is positioned for buyers looking to acquire a stabilized multifamily asset with existing long-term tenancy, rather than assuming the initial lease-up and renovation work themselves.
Located at 177 Chestnut Street in New Haven’s Wooster Square neighborhood, the property is positioned near Downtown New Haven and major institutions including Yale University, Yale New Haven Hospital, and Union Station. It is also reported to be minutes from I-95 and I-91. Tenants are described as having walkable access to Wooster Square Park and a variety of restaurants, including Frank Pepe’s and Sally’s Apizza, along with shopping, entertainment, and cultural attractions. Direct rail access to New York City is also referenced, supporting resident connectivity.
The building includes five off-street parking spaces, which can be a practical benefit for tenants in a dense urban setting. With its renovated unit mix and fully leased status, the property is positioned for buyers looking to acquire a stabilized multifamily asset with existing long-term tenancy, rather than assuming the initial lease-up and renovation work themselves.
Key Highlights
- Approx. 6,009 SF, 6‑unit multifamily building built in 1900
- Fully renovated units with modern kitchens and renovated bathrooms
- Building is fully leased with long‑term tenants in place
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $182.4k | $30.36 |
| − Vacancy | −$11.3k | −$1.88 |
| EGI | $171.1k | $28.48 |
| − OpEx | −$77.0k | −$12.81 |
| NOI | $94.1k | $15.66 |
6,009 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,117 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,306 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully renovated, fully leased six-unit building with modern 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: Approx. 6,009 SF, 6‑unit multifamily building built in 1900; Fully renovated units with modern kitchens and renovated bathrooms; Building is fully leased with long‑term tenants in place
