15 Colby Court
New Haven, Connecticut

Description:

This newly constructed four-unit townhome asset presents a rare opportunity to acquire a core-plus multifamily property in the New Haven market. Built by a reputable local developer, the property is offered as a single investment asset, ideal for investors seeking stable long-term cash flow with future upside. Each of the four townhome-style units is approximately 2,500 square feet and configured with 4 bedrooms and 3.5 bathrooms. Features include hardwood flooring, tiled bathrooms, central air, stainless steel appliances, in-unit laundry, private decks, and one-car garages. Each unit is separately metered for utilities, supporting efficient management and expense control. Guest parking is also included for added convenience. The property will convey as a single asset with no existing condominium association in place. A future condo conversion may offer additional exit flexibility and potential value enhancement. Located within 7-11 minutes of Yale University, Southern Connecticut State University, and the University of New Haven, the property benefits from consistent rental demand driven by nearby universities, faculty, and medical professionals. Projected market rents are $4,500 per unit per month, supporting an estimated gross annual income of approximately $216,000 based on current assumptions.

Listing Courtesy of HomeSmart Homes and Estates