Two-Property Multifamily
New
For Sale
$467,500
246 Front Ave, West Haven, CT 06516
The combined offering includes adjacent residential income properties on Front Avenue.
Property Size2,201 SF
Price / SF$212.40
Days on Market6
Property Features for 246 Front Ave
General Information
Standard status
Active
Size
2,201 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Five Stars Realty
Listed By:
Karina Guissela Naranjo Echeverria (203) 812-9550 (860) 560-1500 · License #RES.0837043
(860) 560-1500
Source:
Sunsetcreekrealty
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 12 at 8:38PM
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 Five Stars Realty
Investment Insights
Based on property information with market context.
This multifamily offering combines two neighboring properties at 242 and 246 Front Avenue in West Haven. The buildings date to 1900, and the properties are being offered together as one package.
The properties are near shopping, restaurants, schools, parks, and public transportation. Access to I-95 and Route 1 connects the area with downtown New Haven, and the West Haven train station is nearby. The shoreline and recreational areas are also within the surrounding area.
The properties are near shopping, restaurants, schools, parks, and public transportation. Access to I-95 and Route 1 connects the area with downtown New Haven, and the West Haven train station is nearby. The shoreline and recreational areas are also within the surrounding area.
Key Highlights
- Two neighboring multifamily properties offered together
- Addresses include 242 Front Avenue and 246 Front Avenue in West Haven, CT 06516
- Buildings date to 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,474
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,480
$689.5K
Cap Rate 7%
$492,486
$492.5K
Cap Rate 9%
$383,044
$383.0K
Market Conditions
NOI Build-Up for 2,201 SF
Gross rent
$66.8K $30.36/SF
− Vacancy
−$4.1K −$1.88/SF
EGI
$62.7K $28.48/SF
− OpEx
−$28.2K −$12.81/SF
NOI
$34.5K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,480
Cap Rate 7%
$492,486
Cap Rate 9%
$383,044
Alternative Uses
Best Use
Apartment 5plus
$492.5K
$430.9K – $574.6K
NOI $34,474 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$708.0K
$619.5K – $826.0K
NOI $49,561 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,069
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - The combined offering includes adjacent residential income properties on Front Avenue.
Where is this multifamily property located?
The property is located at 246 Front Ave West Haven, CT.
What is the asking price?
The asking price for this property is $467,500.
What are key features of this property?
This property features: Two neighboring multifamily properties offered together; Addresses include 242 Front Avenue and 246 Front Avenue in West Haven, CT 06516; Buildings date to 1900
