1351 State Street
New Haven, Connecticut

Description:

House #1- 1014-1016 Noble Ave Bridgeport. Incredible income-generating opportunity with this 18-room legal rooming house, fully compliant and positioned for maximum return. Projected annual income at full capacity $168,300. One room occupied rent-free by on-site property manager. Ideal for investors seeking steady cash flow and minimal vacancies features 16 private rooms 2 efficiency units and 2 shared bathrooms. Average room size: 14' x 15' some bigger. House #2- 1351 State St New Haven: Rare opportunity to acquire a fully legal, income-producing rooming house for over 30 years with strong cash flow and long-term stability. Features 12 rentable rooms + 1 efficiency unit and a separate commercial space with State Street frontage. 2 shared bathrooms, shared kitchen, plus coin-op laundry setup potential. On-site manager's apartment (1 bed, 1 bath, kitchen, living space) Small room on lower level for an office. Commercial Space features separate entrance with 1 bath, ideal for restaurant, office, or retail. Gross income potential: approx. $168,000/year. Key Investor Features: Turnkey operation with decades-long rental history, well-maintained: 7 yr old roof, newer siding, and windows, dry full basement with potential for storage or laundry income, average room size 12x10 or bigger. These are 2 stable, cash-flowing assets in a prime Bridgeport & New Haven location. Ideal for seasoned or new investors seeking a high-cap rate property with upside in commercial revenue.

Listing Courtesy of Eaddy Associates