219 S Orchard St
- Mark-to-Market Value Add Opportunity
- Renovated Units
- Strong I-91 Corridor Location
- Established Long-Term Tenant Base
Property Description
Northeast Private Client Group is pleased to exclusively present the opportunity to acquire 219 South Orchard Street, a five-unit multifamily property situated in Wallingford, Connecticut. The offering consists of a two-story wood-frame building totaling 3,487 square feet of living area, inclusive of a finished lower level, set on a 0.38-acre lot in one of New Haven County’s most accessible and supply-constrained rental submarkets. Wallingford’s central location along the Interstate 91 corridor positions residents within easy reach of New Haven, Hartford, and the region’s major employment centers, supporting consistent rental demand at this price point. The property benefits from an established, long-term tenant base with leases extending through 2027, reflecting the stability that characterizes well-located small multifamily assets in this submarket. Current gross scheduled rent of $91,140 annually reflects a rent roll that has not been actively pushed to market, creating a clear path to the pro forma gross potential of $104,400, a $13,260 increase driven entirely by lease-up to achievable rents across the existing unit mix. All units have been renovated which presents an investor with a mark-to-market opportunity to increase NOI without additional capital.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $699,000 |
| No. of Units: | 5 |
| Year Built: | 1870 |
| Lot Size: | 0.38 Acres |
| Opportunity Zone: | No |
| Price per unit: | $139,800 |
| Property Website | Click Here |
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