597-601 Chapel Street,

New Haven, CT 06510

Sale Price:

$1,385,000

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1/11

price

$1,385,000

square feet

4,615

cap rate

XXX

units

8+

buildings

2

built

1900

description:

Prime Rehab Opportunity in Wooster Square's Historic District. 597 and 601 Chapel Street are located adjacent to one another and each has their own parcel, totaling .28 acres combined.  The residential units in both properties require full gut renovation.
597 Chapel is a 6 Unit Mixed-Use Building consisting of 4 apartments and 2 retail spaces.  The 2 retail spaces in the front are currently leased to a Florist and an Art Studio. The Florist is a long-term lease and currently leases the space for $700/month. The Art Studio leases the space for $1200/month. The remaining 4 residential units consist of 3-2 Bed and 1-1 Bed Units.  
601 Chapel Street is a 2 Unit being converted to a 3 Unit Property. The front of the building consists of 2-1 Bedroom Units. The back of the building will have a Townhouse Style 2-Bedroom Unit. 
Plenty of off-street parking in the rear of the buildings. Perfect location in a highly desirable and sought after neighborhood. Near the Red line of the Yale Shuttle.​

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