Fully Rented 3-Unit Residential
246 Elm Street West Haven, CT 06516
246 Elm Street, West Haven, CT, 06516
$659,000
For Sale
$659,000
Well-maintained three-family property with separate in-unit washer/dryers and a detached two-car garage.
Property Size3,410 SF
Price / SF$193.26
Days on Market142
Property Features for 246 Elm Street
General Information
- Standard status
- Active
- Size
- 3,410 SF
- Property subtype
- Multi-Family / 3 Family
Building Details
- Year Built
- 1861
Listing agency
Keller Williams Prestige Prop.
(203) 391-8044
Listed by
Hy Natarajan · License #RES.0795327
(203) 391-8044
Source
Compass
Added: Mar 2 Updated: Jul 21 at 10:45PM Checked: Jul 21 at 10:45PM
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 Keller Williams Prestige Prop.
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property is fully rented. The building includes two three-bedroom units and one two-bedroom unit, with each unit equipped with its own washer/dryer and hardwood floors. A detached two-car garage on site provides additional income.
The property is located at 246 Elm Street in West Haven, Connecticut, in a neighborhood described as quiet by the current marketing remarks, with plenty of parking for residents.
The existing configuration supports a multi-unit rental setup with off-street parking and individual laundry convenience for each unit.
The property is located at 246 Elm Street in West Haven, Connecticut, in a neighborhood described as quiet by the current marketing remarks, with plenty of parking for residents.
The existing configuration supports a multi-unit rental setup with off-street parking and individual laundry convenience for each unit.
Key Highlights
- Well‑maintained 3‑family home with fully‑rented units
- 2‑car detached garage generates additional income
- Unit mix: 2 units with 3+ bedrooms and 1 unit with 1–2 bedrooms
Local Financial Insights For Multifamily LT 5
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 | $88.0k | $25.80 |
| − Vacancy | −$6.0k | −$1.75 |
| EGI | $82.0k | $24.05 |
| − OpEx | −$24.6k | −$7.21 |
| NOI | $57.4k | $16.83 |
3,410 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$820.0K
$717.5K – $956.6K
NOI $57,397 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$763.0K
$667.6K – $890.2K
NOI $53,410 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$1.10M
$959.8K – $1.28M
NOI $76,784 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family property with separate in-unit washer/dryers and a detached two-car garage.
Where is this triplex located?
The property is located at 246 Elm Street West Haven, CT.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Well‑maintained 3‑family home with fully‑rented units; 2‑car detached garage generates additional income; Unit mix: 2 units with 3+ bedrooms and 1 unit with 1–2 bedrooms
