13-Unit Multifamily
83 East Grand Ave, New Haven, CT 06513
For Sale
$2,445,000
Three-building apartment property with a varied unit mix, updated interiors, and full occupancy in Fair Haven Heights.
Property Size10,394 SF
Price / SF$235.23
Days on Market50
Property Features for 83 East Grand Ave
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Road Access
Public Transit
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Berkshire Hathaway Ne Prop.
(917) 952-4910
Listed By:
Linda Edelwich Team
(860) 818-3610
Source:
Agentsonmain
Added: Sep 21
Changed: Nov 8
Last Checked: Nov 8 at 6:10AM
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 Berkshire Hathaway Ne Prop.
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Investment Insights
Based on property information with market context.
This 13-unit multifamily property comprises three buildings on East Grand Avenue in New Haven’s Fair Haven Heights neighborhood. The unit mix includes one-bedroom townhome-style apartments, ADA-compliant two-bedroom units, and larger three- and four-bedroom residences. Interior features include tile and hardwood flooring, wood kitchen cabinetry, granite countertops, and maintained kitchens and baths. The property is fully rented and offers in-place rental income.
Two-, three-, and four-bedroom units have gas heat and central air, while the one-bedroom apartments are all-electric and do not have central AC. The property is located minutes from I-91, I-95, downtown New Haven, and Yale University, with public transportation, schools, shopping, dining, and local businesses nearby. The property information also identifies possible future unit expansion opportunities, subject to buyer due diligence.
Two-, three-, and four-bedroom units have gas heat and central air, while the one-bedroom apartments are all-electric and do not have central AC. The property is located minutes from I-91, I-95, downtown New Haven, and Yale University, with public transportation, schools, shopping, dining, and local businesses nearby. The property information also identifies possible future unit expansion opportunities, subject to buyer due diligence.
Key Highlights
- 13‑unit multifamily property across three buildings
- Unit mix includes 1‑bedroom townhome‑style, ADA‑compliant 2‑bedroom, and 3- and 4‑bedroom apartments
- Fully rented with in‑place rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,798
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,255,960
$3.3M
Cap Rate 7%
$2,325,686
$2.3M
Cap Rate 9%
$1,808,867
$1.8M
Market Conditions
NOI Build-Up for 10,394 SF
Gross rent
$315.6K $30.36/SF
− Vacancy
−$19.6K −$1.88/SF
EGI
$296.0K $28.48/SF
− OpEx
−$133.2K −$12.81/SF
NOI
$162.8K $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%
$3,255,960
Cap Rate 7%
$2,325,686
Cap Rate 9%
$1,808,867
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.03M – $2.71M
NOI $162,798 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.34M
$2.93M – $3.90M
NOI $234,045 @ 7.0% cap · market cap 9.57%
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
13
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
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 apartment property with a varied unit mix, updated interiors, and full occupancy in Fair Haven Heights.
Where is this apartment building located?
The property is located at 83 East 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: 13‑unit multifamily property across three buildings; Unit mix includes 1‑bedroom townhome‑style, ADA‑compliant 2‑bedroom, and 3- and 4‑bedroom apartments; Fully rented with in‑place rental income
