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Evergreen Court 40 Briarwood Ln 18 Unit Apartment Building $5,523,480 CAD ($306,860 CAD/Unit) 6.50% Cap Rate Branford, CT 06405
Investment Highlights
- Quiet, residential location on 3.5+ acres
- Affluent shoreline community
- Brick 1960s construction
Executive Summary
Welcome to the Evergreen Court Apartments - an 18-unit brick garden-style community in Branford's thriving shoreline rental market! This well-maintained three-story building features a great unit mix of 15 two-bedrooms and 3 one-bedrooms, with interiors updated throughout the years - bright kitchens, refreshed baths, and modern finishes that command solid Class-B rents! All tenant-paid electric utilities contribute to a lean expense profile and make for a clean, easy-to-operate asset. Find upside ahead through continued unit upgrades, mark-to-market on remaining below-market rents, and the opportunity to add outdoor amenities like a dog park, patio, or resident gathering space. Coin-op laundry, basement tenant storage, and two parking spots per unit round out the appeal! Tenants love the quiet residential setting on over 3 acres, with direct I-95 access, Metro-North Shore Line East rail nearby, and a short drive to New Haven, Yale, and shoreline employment hubs. Plus, it's a mile to the beach and less than two to Branford Green! Branford's historically low vacancy and durable renter base make this a fantastic addition to any portfolio.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$522,383
|
$27.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$26,119
|
$1.39
|
| Effective Gross Income |
$496,264
|
$26.42
|
| Taxes |
$34,522
|
$1.84
|
| Operating Expenses |
$104,372
|
$5.56
|
| Total Expenses |
$138,893
|
$7.39
|
| Net Operating Income |
$357,371
|
$19.03
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $522,383 |
| Annual Per SF | $27.81 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $26,119 |
| Annual Per SF | $1.39 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $496,264 |
| Annual Per SF | $26.42 |
| Taxes (CAD) | |
|---|---|
| Annual | $34,522 |
| Annual Per SF | $1.84 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $104,372 |
| Annual Per SF | $5.56 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $138,893 |
| Annual Per SF | $7.39 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $357,371 |
| Annual Per SF | $19.03 |
Property Facts
| Price | $5,523,480 CAD | Apartment Style | Garden |
| Price Per Unit | $306,860 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 3.64 AC |
| Cap Rate | 6.50% | Building Size | 18,783 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 2.13/1,000 SF |
| Zoning | MF - Multifamily | ||
| Price | $5,523,480 CAD |
| Price Per Unit | $306,860 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.64 AC |
| Building Size | 18,783 SF |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 2.13/1,000 SF |
| Zoning | MF - Multifamily |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 725 |
| 2+1 | 15 | - | 1,025 - 1,075 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Minimal public transit
10/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | BRAN-000009C-000011-000007 | Total Assessment | $1,614,902 CAD (2025) |
| Land Assessment | $218,768 CAD (2025) | Annual Taxes | $34,522 CAD ($1.84 CAD/SF) |
| Improvements Assessment | $1,396,135 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
BRAN-000009C-000011-000007
Land Assessment
$218,768 CAD (2025)
Improvements Assessment
$1,396,135 CAD (2025)
Total Assessment
$1,614,902 CAD (2025)
Annual Taxes
$34,522 CAD ($1.84 CAD/SF)
Tax Year
2026
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Evergreen Court | 40 Briarwood Ln
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