Renovated Triplex with Two-Car
370 Shelton Ave, New Haven, CT 06511
For Sale
$575,000
Three updated apartments feature refreshed interiors, separate utility responsibility, and access to a private driveway.
Property Size3,177 SF
Price / SF$180.99
Days on Market51
Property Features for 370 Shelton Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Century 21 Scala Group
Listed By:
Thomas Payne · License #RES.0824672
(203) 233-7445
Source:
Elliman
Added: Sep 20
Changed: Nov 8
Last Checked: Nov 8 at 6:06AM
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 Century 21 Scala Group
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Investment Insights
Based on property information with market context.
This 3,177-square-foot triplex at 370 Shelton Ave includes three residential units with updated interiors. Each apartment has new hardwood flooring, remodeled bathrooms with tiled showers, new kitchen cabinetry and countertops, fresh paint, updated electrical systems, and vinyl siding. The property also includes a new roof, three new gas furnaces, new hot water heaters, a private driveway, and a 2-car garage.
The first-floor unit offers 3 bedrooms and 1 bath under a month-to-month lease. The second-floor unit also has 3 bedrooms and 1 bath, with its lease ending 12/31/2026. The third-floor apartment provides 4 bedrooms and is currently vacant. Residents are responsible for their own utilities. The property was built in 1900 and has a BikeScore of 70, WalkScore of 67, and TransitScore of 42.
The first-floor unit offers 3 bedrooms and 1 bath under a month-to-month lease. The second-floor unit also has 3 bedrooms and 1 bath, with its lease ending 12/31/2026. The third-floor apartment provides 4 bedrooms and is currently vacant. Residents are responsible for their own utilities. The property was built in 1900 and has a BikeScore of 70, WalkScore of 67, and TransitScore of 42.
Key Highlights
- 3,177 sq ft triplex with three residential units
- Each apartment has new hardwood floors, tiled‑shower bathrooms, kitchen cabinets, countertops, and fresh paint
- Three new gas furnaces and hot water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,760
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$995,200
$995.2K
Cap Rate 7%
$710,857
$710.9K
Cap Rate 9%
$552,889
$552.9K
Market Conditions
NOI Build-Up for 3,177 SF
Gross rent
$96.5K $30.36/SF
− Vacancy
−$6.0K −$1.88/SF
EGI
$90.5K $28.48/SF
− OpEx
−$40.7K −$12.81/SF
NOI
$49.8K $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%
$995,200
Cap Rate 7%
$710,857
Cap Rate 9%
$552,889
Alternative Uses
Best Use
Multifamily LT 5
$763.9K
$668.4K – $891.3K
NOI $53,475 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$710.9K
$622.0K – $829.3K
NOI $49,760 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$1.02M
$894.2K – $1.19M
NOI $71,537 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
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Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in New Haven, CT
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Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated apartments feature refreshed interiors, separate utility responsibility, and access to a private driveway.
Where is this triplex located?
The property is located at 370 Shelton Ave New Haven, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,177 sq ft triplex with three residential units; Each apartment has new hardwood floors, tiled‑shower bathrooms, kitchen cabinets, countertops, and fresh paint; Three new gas furnaces and hot water heaters
