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48 Dixwell Avenue, New Haven CT 06511

Current Price: $1,750,000

8 beds 4 baths 7854 sq. ft

Last Update: 4/21/2025

Property Type: Multi-Family For Sale

Public Remarks

****PRICE REDUCTION IS FOR 48 DIXWELL AVE ONLY NOW*** 48 Dixwell is located within a 2-minute walk to Yales Payne Whitney Gym, a 3-minute walk to Yales Broadway Shopping District and the Apple Store, and a 4-minute walk to the upcoming Dixwell Plaza - New Havens newest shopping and entertainment district (see picture). When fully developed consolidated site capable of generating $1 million+ in annual gross income. Opportunity is Ideal for investors seeking high returns, long-term capital appreciation, and an opportunity to engage in ground-up development in one of New Havens most strategically positioned areas. Serious buyers are required to provide proof of funds (POF) before scheduling property viewings. A fully reconstructed four-story, two-family complex, with a ground-up renovation completed in 2021. Each unit features four bedrooms and two full bathrooms. High-end finishes include walk-in tiled showers, wall-hung toilets, and stainless steel appliances. Top-of-the-line LG Red mini split heating and cooling systems. Two levels white-box finished, offering easy-to-convert space to commercial or additional residential units. 48 Dixwell Phase 1 completed. Currently fully occupied by Yale athletes, generating a gross monthly income of $11,000 and annual net income of $113,500 bringing the CAP Rate to over 6.5%.

Zoning & Development Potential: Only privately owned Dixwell property with the highly sought-after Commercial Gateway District zoning designation, offering significant development advantages as a matter of legal right: No setbacks or parking requirements. Floor Area Ratio (FAR) up to 4.5, for super-high-density development. Potential for constructing a seven-story building at rear of site. The owner has detailed information regarding the propertys expansion potential, with a promising outlook for further development, particularly appealing to investors looking to capitalize on the nearby presence of Yale University. Additional Features & Investment Highlights: Utilities, including underground grease trap line for mixed-used development, already installed for 7-story rear building at a cost of $150,000. Windows purchased for the first floor of rear building, totaling $60,000. Buyers and Agents to perform their own Due Diligence.

Map to Property at 48 Dixwell Avenue, New Haven CT 06511


GPS

Residential Property Information for 48 Dixwell Avenue, New Haven CT 06511

MLS #: 24069014

Style: Units on different Floors

Color: Grey

Total Rooms:

Bedrooms: 8

Bathrooms: 4

Acres: 0.12

Year Built: 1910 (Public Records)

New Construction: No/Resale

Home Warranty Offered:

Property Tax: $16,938

Zoning: RM2

Mil Rate:

Assessed Value: $439,950 

Potential Short Sale:

Square Footage: Estimated HEATED Sq.Ft. above grade is 5973; below grade sq feet total is 1881; total sq ft is 7854

Features
Fireplaces: 0
Home Automation: Lighting,Security System,Thermostat(s)
Attic: Pull-Down Stairs
Basement Desc.: Full,Heated,Fully Finished,Cooled,Concrete Floor,Full With Walk-Out
Exterior Siding: Stucco
Exterior Features: Sidewalk,Garden Area,Lighting,Patio
Foundation: Stone
Roof: Flat
Parking Spaces: 0
Garage/Parking Type: None
Swimming Pool: 0
Waterfront Feat.: Not Applicable
Lot Description: Level Lot
Nearby Amenities: Basketball Court,Medical Facilities,Private School(s),Public Transportation,Shopping/Mall
In Flood Zone: 0
Occupied: Tenant
Utility Information

Hot Water System Natural Gas,Tankless Hotwater

Heat Type: Heat Pump

Fueled By: Electric.

Cooling: Split System

Fuel Tank Location:

Water Service: Public Water Connected

Sewage System: Public Sewer In Street

School Information

Elementary: Per Board of Ed

Intermediate: Per Board of Ed

Middle: Per Board of Ed

High School: Per Board of Ed

Marketing History

Current List Price: $1,750,000

Original List Price: $2,100,000

DOM: 53

Listing Date: 1/22/2025

Last Updated: 2/28/2025 9:50:37 PM

Listing Agent and Broker

List Agent Name: Joe Scarpellino

List Office Name: Coldwell Banker Realty