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Evergreen Court 40 Briarwood Ln 18 Unit Apartment Building $5,682,800 CAD ($315,711 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 |
$537,451
|
$28.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$26,873
|
$1.43
|
| Effective Gross Income |
$510,578
|
$27.18
|
| Taxes |
$35,517
|
$1.89
|
| Operating Expenses |
$107,382
|
$5.72
|
| Total Expenses |
$142,900
|
$7.61
|
| Net Operating Income |
$367,679
|
$19.58
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $537,451 |
| Annual Per SF | $28.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $26,873 |
| Annual Per SF | $1.43 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $510,578 |
| Annual Per SF | $27.18 |
| Taxes (CAD) | |
|---|---|
| Annual | $35,517 |
| Annual Per SF | $1.89 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $107,382 |
| Annual Per SF | $5.72 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $142,900 |
| Annual Per SF | $7.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $367,679 |
| Annual Per SF | $19.58 |
Property Facts
| Price | $5,682,800 CAD | Apartment Style | Garden |
| Price Per Unit | $315,711 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 | $5,682,800 CAD |
| Price Per Unit | $315,711 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 | $1,608,749 CAD (2025) |
| Land Assessment | $217,934 CAD (2025) | Annual Taxes | $35,517 CAD ($1.89 CAD/SF) |
| Improvements Assessment | $1,390,815 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
BRAN-000009C-000011-000007
Land Assessment
$217,934 CAD (2025)
Improvements Assessment
$1,390,815 CAD (2025)
Total Assessment
$1,608,749 CAD (2025)
Annual Taxes
$35,517 CAD ($1.89 CAD/SF)
Tax Year
2026
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Evergreen Court | 40 Briarwood Ln
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