Apartment Building with In-Unit
For Sale
$3,899,999
527 Chapel St, New Haven, CT 06511
Offers one- and two-bedroom apartments with separate utilities and natural gas heat.
Property Size14,692 SF
Price / SF$265.45
Days on Market50
Property Features for 527 Chapel St
General Information
Standard status
Active
Size
14,692 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Wooster Square
Public Transit
Yes
Units
Unit Mix
8 x 1BR, 8 x 2BR
Multifamily Units
16
Additional Details
Gross Income
$357,000
Amenities
in-unit laundry
Building Details
Building Size
14,692 SF
Year Built
1890
Buildings
1
Construction
brick
Listing Agency:
Social & Co Realty
Listed By:
Joseph A. Tracey · License #RES.0805092
(203) 676-9953
Source:
Elliman
Added: Sep 15
Changed: Nov 1
Last Checked: Nov 3 at 5:50AM
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 Social & Co Realty
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Investment Insights
Based on property information with market context.
Built in 1890, this brick apartment building at 527 Chapel St comprises 16 units and approximately 14,692 square feet. The residential layout includes eight one-bedroom apartments and eight two-bedroom apartments, providing an even mix of unit types. Nine units have in-unit laundry, while separate utilities and natural gas heat reduce the scope of owner-paid building services. Two units are currently vacant, creating an opportunity to place additional apartments into service.
The property is located in New Haven’s Wooster Square area near Wooster Square Park, Downtown New Haven, Yale University, restaurants, public transportation, and major highways. Nearby parking is available through the St. Andrew's Society, subject to availability and a separate arrangement. The location also has recorded walk, bike, and transit scores of 97, 98, and 78, respectively.
The property is located in New Haven’s Wooster Square area near Wooster Square Park, Downtown New Haven, Yale University, restaurants, public transportation, and major highways. Nearby parking is available through the St. Andrew's Society, subject to availability and a separate arrangement. The location also has recorded walk, bike, and transit scores of 97, 98, and 78, respectively.
Key Highlights
- 16‑unit brick apartment building totaling approximately 14,692 SF
- Unit mix includes eight 1‑bedroom and eight 2‑bedroom apartments
- Nine of 16 units feature in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,117
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,602,340
$4.6M
Cap Rate 7%
$3,287,386
$3.3M
Cap Rate 9%
$2,556,856
$2.6M
Market Conditions
NOI Build-Up for 14,692 SF
Gross rent
$446.0K $30.36/SF
− Vacancy
−$27.7K −$1.88/SF
EGI
$418.4K $28.48/SF
− OpEx
−$188.3K −$12.81/SF
NOI
$230.1K $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%
$4,602,340
Cap Rate 7%
$3,287,386
Cap Rate 9%
$2,556,856
Alternative Uses
Best Use
Apartment 5plus
$3.29M
$2.88M – $3.84M
NOI $230,117 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.73M
$4.14M – $5.51M
NOI $330,824 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
3,642
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Offers one- and two-bedroom apartments with separate utilities and natural gas heat.
Where is this apartment building located?
The property is located at 527 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $3,899,999.
What are key features of this property?
This property features: 16‑unit brick apartment building totaling approximately 14,692 SF; Unit mix includes eight 1‑bedroom and eight 2‑bedroom apartments; Nine of 16 units feature in‑unit laundry
