1435 State St 1435 State St 21 Unit Apartment Building $5,961,283 CAD ($283,871 CAD/Unit) 5.10% Cap Rate New Haven, CT 06511

The Lisa Cozzi Team is proud to present this rare opportunity to acquire a 21-unit multifamily asset in one of New Haven’s most sought-after neighborhoods — East Rock. Set within a beautifully restored brick building once home to the YMCA and the historic Railroad Boarding House, this property seamlessly blends timeless architecture with modern luxury and a true sense of community.
This turnkey investment features a robust unit mix — 6 studios, 10 one-bedrooms, and 5 two-bedrooms (some with two baths) — all meticulously updated with granite countertops, stainless steel appliances, in-unit washer/dryers, and individually controlled heating, hot water, and central air.
Four ground-floor units enjoy private rear entrances, offering additional privacy and convenience.
The property’s shared outdoor spaces further enhance its appeal — featuring six EV charging stations set on handsome pavers, community garden boxes, and a picnic area that encourages connection among residents and reinforces the building’s inviting, neighborhood feel. Inside, residents also enjoy secured access, a fitness room, and off-street parking — amenities that drive both tenant retention and strong rental demand.
Ideally positioned just minutes from Yale University, East Rock Park, downtown New Haven, and the area’s many restaurants and shops, this property offers consistent occupancy and long-term appreciation potential. With tenant-paid utilities and an attractive assumable Freddie Mac loan at 3.8% interest (with a 1% assumption fee), investors can step into an efficient, income-producing asset in a premier location with minimal management overhead.
Whether you’re expanding your portfolio or seeking a stable, high-quality property in one of Connecticut’s most desirable rental markets, this East Rock opportunity is not to be missed.