$2,650,000 ($342.91 per sqft)

Est. Mortgage $12,881/mo *

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Listing courtesy of Amanda Faroni-Sheehan (203) 314-4219, Oxford Realty (203) 314-4219

701 South Main Street, Waterbury, (South End), CT, 06706

701 South Main Street, Waterbury, (South End), CT, 06706
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6 rooms

4 beds

1 Full baths

1900

Units on different Floors, Units are Side-by-Side

7,728 sqft

Truly turn-key portfolio opportunity in Waterbury's South End, offering strong in-place cash flow with upside with 8.5% CAP actual. The sale includes three adjacent parcels comprising six buildings with a total of 25 units: 23 residential apartments and two commercial spaces. The residential unit mix consists of (6) four-bed units, (11) three-bed units, and (6) two-bed units. Five of the six buildings feature separate, tenant-paid utilities, all electric heat, hot water, and cooking. Building 701 includes six apartments with owner-paid gas heat only, while electric and hot water remain tenant-paid. Five of the six buildings have completed the City of Waterbury de-leading program and have been extensively renovated, including new vinyl siding, replacement windows, updated interiors, upgraded electrical systems, rebuilt porches, and newer roofs (2017). Most apartments offer hardwood flooring, expansive layouts, and updated kitchens and baths. The portfolio has demonstrated historically low vacancy and a strong tenant base. A common coin-operated laundry room is in Building 691 and is available to all tenants. The two commercial units have separate utilities and present a value-add opportunity, as they require full renovation. The properties offer ample off-street parking, with over 20 combined parking spaces. Convenient location with easy access to I-84 and Route 8. Many rents remain below market, providing significant upside as well.

Status:

Active

Town:

Waterbury

Type:

Multi-family

Laundry Remarks:

Common Laundry Area

Units:

25

Zoning:

CG

Garage:

Off Street Parking, Driveway, Unpaved

Heating:

Baseboard, Hot Air

Cooling:

Window Unit

Basement:

Full, Unfinished

Parking:

25-car

Acreage:

0.12

Est. Taxes:

$14,443

Assessment

$321,090

Lot Description:

Level Lot

Elementary School:

Per Board of Ed

High School:

Per Board of Ed

Days on Market:

57

MLS #:

24163808

Community Info

School Info

Walk Score

Mass Transit

Yelp

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