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$ 1,750,000
Est. payment | /mo
2 Baths
5,973 SqFt
$ 1,750,000
Est. payment | /mo
2 Baths
5,973 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,973 sqft
Price per Sqft $292
MLS Listing ID 24070069
Full Baths 2
Year Built 1910
Annual Tax Amount $16,938
Lot Size 5,227 Sqft
Property Description
****PRICE REDUCTION IS FOR 48 DIXWELL AVE ONLY NOW*** located within a 2-minute walk to Yale's Payne Whitney Gym, a 3-minute walk to Yale's Broadway Shopping District and the Apple Store, and a 4-minute walk to the upcoming Dixwell Plaza - New Haven's newest shopping and entertainment district (see picture). When fully developed consolidated site capable of generating $1 million+ in annual gross income. Opportunity is Ideal for investors seeking high returns, long-term capital appreciation, and an opportunity to engage in ground-up development in one of New Haven's most strategically positioned areas. Serious buyers are required to provide proof of funds (POF) before scheduling property viewings. A fully reconstructed four-story, two-family complex, with a ground-up renovation completed in 2021. Each unit features four bedrooms and two full bathrooms. High-end finishes include walk-in tiled showers, wall-hung toilets, and stainless steel appliances. Top-of-the-line LG Red mini split heating and cooling systems. Two levels white-box finished, offering easy-to-convert space to commercial or additional residential units. 48 Dixwell Phase 1 complete. Currently fully occupied by Yale athletes, generating a gross monthly income of $11,000 and annual net income of $113,500 bringing CAP Rate to 6.5%.
Location
State CT
County New Haven
Zoning RM2
Interior
Heating Heat Pump
Cooling Heat Pump
Exterior
Exterior Feature Lighting
Utilities Available Electric, Gas, Telephone, Cable
Roof Type EPDM Synthetic Rubber
Building
Lot Description Cleared
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Joe Scarpellino • Coldwell Banker Realty
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