621 Elm StNew Haven, CT 06511

Exceptional investment opportunity in New Haven, Connecticut's desirable Dwight neighborhood, this three-unit multifamily property at 621 Elm Street offers a compelling blend of location, income potential, and value. The property boasts a total of 3,320 square feet, spread across three stories in a single building constructed in 1900. Each unit features two bedrooms and one bathroom, offering comfortable living spaces for tenants. Currently, one unit commands a monthly rent of $1,100, with a month-to-month lease in place. The remaining two units are vacant and ready for immediate occupancy, presenting an immediate opportunity to increase rental income. Tenant-paid utilities further enhance the property's profitability. The property is free of any rental arrears, providing peace of mind for the new owner. Convenient off-street parking is also available. Situated within the Dwight Street Historic District, close to Pierson College and numerous local shops, this property benefits from a highly desirable location. This asset is priced at $465,000, representing a price per unit of $155,000 and a price per square foot of $140.06. This property is ideal for both owner-occupants seeking a rental income stream and investors looking for a strong return on investment in a thriving New Haven neighborhood.