Description

115, 117 -119 Nicoll Street is a 25' wide x 40' long, 3-story plus finished attic and basement building located between Eagle and Lawrence Streets in the neighborhood of East Rock in New Haven. All leases are below or at market level. The property is individually metered for electric service and the roof is approximately seven years old. The ground floor is a duplex with a finished basement offering 1750 sq ft, 3-4 bedrooms, 2 bathrooms and has direct access to the rear yard and adjacent 400 sq ft garage, with its own laundry units.

Both 1st and 2nd floor units operate on gas heating, with highly efficient energy use in setting of recent renovation and insulation of entire building. The 2nd floor offers a 1000sq ft 2 bedroom/1 bathroom unit with a 100sq ft back deck as part of a back stairwell. The third floor is also a 1500sq ft duplex with a finished attic, 2-3 bedroom/1 bathroom unit, with electric heat and its own 150sq ft back deck.

The building is a well located asset for a user, developer, or investor. The entire building is located on its own lot and the adjacent garage also sits on its own lot with its own address and potential for additional housing construction.

Location : 117-119 Nicoll Street between Eagle and Lawrence Garage lot: 115 Nicoll Street

Lot Size: 60' x 123' (Approx.)
Lot Area : 7,405SF (Approx.)
Building Size: 25' x 40'
STORIES: 3 plus basement and attic finished
UNITS: 3
Garage: 1 car, additional off-street parking for 3 vehicles

REVENUE (Actual)
Ground Floor Month - $2,100
Second Floor Month - $1,200
Third Floor Month - $1,500
Total Combined Monthly Revenue - $4,800
Yearly Combined Revenue - $57,600
EXPENSES
Real Estate Taxes (12/13) Actual $9,000
Water & Sewer Charges $600
Net Operating Income $48,000