Student Housing Apartment
92 Pearl St New Haven, CT 06511
92 Pearl St, New Haven, CT, 06511
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For Sale
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Pending
Ten-asset apartment portfolio within a five-minute walk to campus, with consistent 100% occupancy for over five years.
Days on Market103
Property Features for 92 Pearl St
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing agency
JLL Chicago | Americas Headquarters
Listed by
Scott Clifton · License #IL 475.170910
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 12:34PM Checked: Jul 21 at 12:34PM
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Investment Insights
Based on property information with market context.
Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, presents the opportunity to acquire a ten-asset portfolio (“Yale Portfolio”) in New Haven, Connecticut that serves students at Yale University. The properties are located within a five-minute walk to campus and have delivered consistent 100% occupancy for more than five consecutive years.
The portfolio has delivered 10%+ annual rent growth, with rents growing nearly 50% in the aggregate over the same period. To date, 12 units, representing approximately 50% of the portfolio, have been renovated, and only 1 unit has been furnished. The offering also notes the opportunity to renovate and furnish the remainder of the portfolio.
According to the remarks, in-place NOI is $542,990 per year, with the potential to create an additional $185,700 per year in NOI through renovations, furnishings, market rent increases for AY 2023–2024, and embedded mark-to-market.
The portfolio has delivered 10%+ annual rent growth, with rents growing nearly 50% in the aggregate over the same period. To date, 12 units, representing approximately 50% of the portfolio, have been renovated, and only 1 unit has been furnished. The offering also notes the opportunity to renovate and furnish the remainder of the portfolio.
According to the remarks, in-place NOI is $542,990 per year, with the potential to create an additional $185,700 per year in NOI through renovations, furnishings, market rent increases for AY 2023–2024, and embedded mark-to-market.
Key Highlights
- Ten‑asset apartment portfolio in New Haven, Connecticut within a five‑minute walk to Yale University
- Consistent 100% occupancy for more than five consecutive years
- In‑place NOI of $542,990 per year with potential to add $185,700 per year in NOI through renovations and furnishing remaining units
Property Analytics
Location Intelligence
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FAQs
What type of property is this?
Apartment building - Ten-asset apartment portfolio within a five-minute walk to campus, with consistent 100% occupancy for over five years.
Where is this apartment building located?
The property is located at 92 Pearl St New Haven, CT.
What are key features of this property?
This property features: Ten‑asset apartment portfolio in New Haven, Connecticut within a five‑minute walk to Yale University; Consistent 100% occupancy for more than five consecutive years; In‑place NOI of $542,990 per year with potential to add $185,700 per year in NOI through renovations and furnishing remaining units
