Lyon Street Apartments

  • Title

    Multifamily Property for Sale

  • City

    New Haven, CT

  • Price

    $950,000

  • Cap Rate

    9.2%

  • Gross Leasable Area

    5,280 SF

  • No. Units

    6

  • Price/SF

    $179.92

  • Price/Unit

    $158,333

  • No. Stories

    4

  • Property Type

    Multifamily

  • Year Built

    1876

Not found amenities.

36-38 Lyon Street, New Haven, CT, is 0.08 acres of RM-2 zoned land improved with a +/-6,000sf multifamily building. The property is located in the desirable Wooster Square neighborhood and is within walking distance to Yale University and amenities that include some of the most desirable restaurants in Connecticut.
The property draws its renter base primarily from employees of Yale University, visiting professors, and young professionals that work nearby. There are six (6) apartments comprised of two (2) twobedroom duplexes, two (2) one-bedroom units, and two (2) one-bedroom lofts. The one-bedroom lofts have consistently been rented to Yale assistant and associate professors for above-market rents via AirBnb.
The current owner has completed extensive interior and exterior capital improvements. All apartments have been renovated and the buildings systems are all new, high-efficiency systems. Additionally, the owner has installed a completely new parking lot to the rear of the building which offers tenants the rare amenity of offstreet
parking in the Wooster Square area.
36-38 Lyon Street offers a new owner the opportunity to acquire a completely renovated cash-flowing asset in one of the most desirable New Haven locations.

New Haven, New Haven County, Connecticut