Northeast Private Client Group is pleased to present 48 Nelson Street, a four unit multifamily building located in the Shippan neighborhood of Stamford.
48 Nelson Street is a 3,808 sf building comprised of four (4) two-bedroom units. The building features tenant paid utilities as well as extra storage in the unfinished basement. This basement area provides the tenants extra storage as well as holds the laundry machines, one for each unit. Of the apartments, one of them has undergone significant renovations and therefore received higher rents. An opportunistic investor can see upside by completing the renovations and raising rents to their established market value.
Shippan is a neighborhood in southern Stamford separated from Downtown by the Metro North Station and Interstate- 95. The neighborhood includes Cummings Park (Public Beach), St. Mary Roman Catholic Church, St Benedict Roman Catholic Church, a supermarket and many other restaurants and small retail businesses.
Stamford is a city located in southern Fairfield County and has a population of about 130,800 residents. The city boasts a median household income of $81,634 and is comprised of 45.5% renters. Stamford is home to four Fortune 500 Companies and nine Fortune 1000 Companies as long as many other divisions of large corporations, this helps make the city the largest financial district in the New York Metro outside of New York City itself. In 2014 the FBI ranked Stamford the 16th safest of the 269 cities in the nation with populations over 100,000. Low crime rates and Stamford’s cluster of corporate headquarters and divisions has attributed to the city’s robust economic growth in recent years.
Stamford, Fairfield County, CT