Detail Description
Discover a prime value-add three-family property perfectly situated in New Haven's vibrant West River/Dwight neighborhood, mere minutes from downtown, major employers, and essential transportation links. This building offers a robust entry point for both savvy investors and owner-occupants aiming to build substantial equity within a high-demand rental market.
The property features a strategic unit mix: two spacious two-bedroom units and one comfortable one-bedroom unit. All residences boast hardwood floors, generous layouts, and the added efficiency of separate, tenant-paid utilities. A significant opportunity for immediate upside lies with one of the two-bedroom units, currently leased month-to-month at below-market rates, allowing for prompt rent optimization upon turnover.
This location specifically caters to experienced or well-supported property owners who recognize the profound impact of solid management. With a proactive approach, this asset is poised to deliver strong long-term performance. Even light renovations can unlock significant rental income upside, while substantial appreciation and portfolio growth are well within reach for the hands-on investor.
Whether your goal is to occupy one unit and significantly offset your mortgage or to reposition the entire building for higher returns, this property offers unparalleled flexibility and potential. Nearby comparable sales underscore this opportunity: 129 Winthrop sold for $415,000 in good condition, and 706 George Street achieved $520,000 following a full renovation. With vision and the right strategy, this property is truly ready to earn.