Updated 13-Unit Apartment
83 E Grand Ave, New Haven, CT 06513
For Sale
$2,445,000
Three-building multifamily property with varied layouts, ADA-compliant apartments, and convenient access to employment, education, shopping, and transit.
Property Size6,386 SF
Days on Market51
Property Features for 83 E Grand Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Listing Agency:
Pulse Realty LLC
Listed By:
Douglas Ledewitz · License CT REB.0759199
(203) 305-5282
Source:
Elliman
Added: Sep 21
Changed: Nov 10
Last Checked: Nov 10 at 9:46AM
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
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Investment Insights
Based on property information with market context.
This fully occupied 13-unit apartment property comprises three buildings with a varied residential configuration. The unit mix includes nine 1-bedroom townhouse-style apartments, two ADA-compliant 2-bedroom units, and larger 3- and 4-bedroom apartments. Interiors include tile and hardwood flooring, wood cabinetry, granite countertops, and updated kitchen and bath finishes. The 2-, 3- and 4-bedroom units feature gas heat and central air, while the 1-bedroom apartments are all-electric.
Located on East Grand Avenue in New Haven’s Fair Haven Heights neighborhood, the property offers access to I-91, I-95, Downtown New Haven, Yale University, public transportation, shopping, dining, and major employment centers. City records identify building years of 1979, 1930, and 1870 for the three structures.
Located on East Grand Avenue in New Haven’s Fair Haven Heights neighborhood, the property offers access to I-91, I-95, Downtown New Haven, Yale University, public transportation, shopping, dining, and major employment centers. City records identify building years of 1979, 1930, and 1870 for the three structures.
Key Highlights
- Fully occupied 13‑unit multifamily property comprising three buildings
- Unit mix includes nine 1‑bedroom townhouse‑style units, two ADA‑compliant 2‑bedroom units, and larger 3- and 4‑bedroom apartments
- Interior finishes include tile and hardwood flooring, wood cabinetry, granite countertops, and updated kitchens and baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,022
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,000,440
$2.0M
Cap Rate 7%
$1,428,886
$1.4M
Cap Rate 9%
$1,111,356
$1.1M
Market Conditions
NOI Build-Up for 6,386 SF
Gross rent
$193.9K $30.36/SF
− Vacancy
−$12.0K −$1.88/SF
EGI
$181.9K $28.48/SF
− OpEx
−$81.8K −$12.81/SF
NOI
$100.0K $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%
$2,000,440
Cap Rate 7%
$1,428,886
Cap Rate 9%
$1,111,356
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,022 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,795 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
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Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in New Haven, CT
Properties on Market for Apartment buildings in New Haven
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with varied layouts, ADA-compliant apartments, and convenient access to employment, education, shopping, and transit.
Where is this apartment building located?
The property is located at 83 E Grand Ave New Haven, CT.
What is the asking price?
The asking price for this property is $2,445,000.
What are key features of this property?
This property features: Fully occupied 13‑unit multifamily property comprising three buildings; Unit mix includes nine 1‑bedroom townhouse‑style units, two ADA‑compliant 2‑bedroom units, and larger 3- and 4‑bedroom apartments; Interior finishes include tile and hardwood flooring, wood cabinetry, granite countertops, and updated kitchens and baths
