Property Description
The apartments located at 12 & 14 Blackall Road, Milford CT are comprised of 5 apartments (2-two bedroom and 3-one bedroom) across three structures on the 0.16 acre site. The property has a parking lot for the tenants as well as three rentable garages that are currently vacant. The primary heating source at the property is tenant paid electric baseboard. Currently 12 Blackall Road only has 2 electric meters for 3 units. The owner pays for electric for two of the units here. Unit 12-1 pays an extra $100 per month, that can be found in “Other Income” as a utility reimbursement.
Immediate value-add strategy re-examining the back structure (3 garages with a one-bedroom apartment) and potential configurations for that building. Potential rent roll that shows unit 12-3 at $3,000 accounts for the conversion 3 car vacant garage on the 1st floor and the 1 bedroom on the 2nd floor into a 3 bedroom & 1 Bath unit with it’s own garage.
The property is just one-street in from multiple beaches in Milford. An amazing location providing coastal living for tenants with great access to nearby New Haven, CT in under 20 minutes.