1476 Chapel Street

New Haven, located on the southern coast of Connecticut along Long Island Sound, is a historic and culturally rich city known for its blend of academic, artistic, and maritime influences. It is perhaps best recognized as the home of Yale University, whose presence shapes much of the city’s character, architecture, and economy. The city features a mix of colonial history and modern urban life, with green public spaces like the historic New Haven Green at its center, surrounded by shops, restaurants, and cultural institutions. Its coastal setting provides access to beaches and waterfront activities, while its neighborhoods reflect a diverse community with strong cultural traditions, particularly in food, music, and the arts. New Haven is also renowned for its vibrant culinary scene, especially its distinctive style of pizza, which has earned national recognition. Balancing its academic reputation with a dynamic local identity, the city offers both a lively downtown and quiet residential areas, making it a unique hub of history, innovation, and community in southern New England.Northeast Private Client Group is pleased to exclusively present the opportunity to acquire 1476 Chapel Street, a well-positioned 18-unit multifamily investment located in the heart of New Haven, Connecticut. The offering consists of a three-story brick masonry building totaling 16,189 square feet of gross living area situated on 0.21 acres along Chapel Street—one of the city’s primary residential and commercial corridors. New Haven is home to Yale University and Yale New Haven Health, the state’s largest employer, anchoring one of the most resilient rental markets in Connecticut. The property is ideally located on Chapel Street directly across from Yale New Haven St Raphael’s Campus new neuroscience facility, set to open in 2027. It is immediately accessible to Yale University, Yale New Haven Hospital, and the full breadth of New Haven’s retail, dining, and cultural amenities. The asset benefits from proximity to Union Station, providing direct Metro-North rail service to New York City, as well as strong connectivity to I-95, I-91, the Merrit Parkway and Route 34. The current ownership has already completed renovations on 15 of 18 units, providing a new owner with a largely turnkey asset and a clear, low-risk path to completing the remaining three units. Additionally, there is a potential 19th unit in the basement that can be brought back to code with the appropriate updates. 11 of the units have been converted to tenant-paid electric heat, meaningfully reducing landlord utility expense. A new owner can continue this conversion across the remaining units, further reducing the gas expense.