Turnkey Three-Unit Residential
40 Fairfield St New Haven, CT 06515
40 Fairfield St, New Haven, CT, 06515
$699,900
Pending
For Sale
$699,900
Pending
Three renovated 3-bedroom units with separate utilities and off-street parking provide straightforward residential income potential.
Property Size3,360 SF
Days on Market49
Property Features for 40 Fairfield St
General Information
- Standard status
- Pending
- Size
- 3,360 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing agency
Pulse Realty LLC
(203) 305-5282
Listed by
Douglas Ledewitz · License #REB.0759199
(203) 305-5282
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 6:24AM
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 Pulse Realty LLC
Investment Insights
Based on property information with market context.
This extensively renovated three-family property offers more than 3,360 square feet of living space across three spacious 3-bedroom, 1-bath apartments. Each unit includes hardwood floors, gas heat, and central air conditioning, along with updated kitchens and baths featuring wood cabinetry and granite countertops. The building was fully renovated in 2015/16, with improvements including kitchens, bathrooms, electrical, plumbing, mechanical systems, windows, and flooring, supporting a turnkey setup. A full unfinished basement adds storage capacity, and the property includes separate utilities and a house meter for common electric. Off-street parking is also provided.
Located in New Haven’s Westville area, the property is described as convenient to parks, shopping, restaurants, public transportation, downtown New Haven, Yale amenities, and major commuter routes including Route 15 and I-95. Transit access is noted as somewhat transit-oriented, with walking and biking scores described as somewhat walkable and somewhat bikeable.
Designed for owners seeking an owner-occupant option or buyers focused on a residential income building, the unit configuration and renovation history support dependable day-to-day functionality. Separate utilities can simplify billing and operations, while the off-street parking and substantial basement storage are practical benefits for tenants and management.
Located in New Haven’s Westville area, the property is described as convenient to parks, shopping, restaurants, public transportation, downtown New Haven, Yale amenities, and major commuter routes including Route 15 and I-95. Transit access is noted as somewhat transit-oriented, with walking and biking scores described as somewhat walkable and somewhat bikeable.
Designed for owners seeking an owner-occupant option or buyers focused on a residential income building, the unit configuration and renovation history support dependable day-to-day functionality. Separate utilities can simplify billing and operations, while the off-street parking and substantial basement storage are practical benefits for tenants and management.
Key Highlights
- Extensively renovated three‑family built in 1928 offering 3,360+ SF in New Haven’s Westville area
- Three spacious 3‑bedroom, 1‑bath units, each with hardwood floors and abundant natural light
- 2015/16 full renovation included kitchens, baths, electrical, plumbing, mechanicals, windows, and flooring
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 | $86.7k | $25.80 |
| − Vacancy | −$5.9k | −$1.75 |
| EGI | $80.8k | $24.05 |
| − OpEx | −$24.2k | −$7.21 |
| NOI | $56.6k | $16.83 |
3,360 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$807.9K
$706.9K – $942.6K
NOI $56,555 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$751.8K
$657.8K – $877.1K
NOI $52,627 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.08M
$945.7K – $1.26M
NOI $75,658 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three renovated 3-bedroom units with separate utilities and off-street parking provide straightforward residential income potential.
Where is this triplex located?
The property is located at 40 Fairfield St New Haven, CT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Extensively renovated three‑family built in 1928 offering 3,360+ SF in New Haven’s Westville area; Three spacious 3‑bedroom, 1‑bath units, each with hardwood floors and abundant natural light; 2015/16 full renovation included kitchens, baths, electrical, plumbing, mechanicals, windows, and flooring
