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135 Prospect St 135 Prospect St 8 Unit Apartment Building $895,000 ($111,875/Unit) 8% Cap Rate Waterbury, CT 06710
Executive Summary
Exceptional 8-Unit Multifamily Investment Opportunity
Well-maintained 8-unit asset featuring a strong unit mix of five 1-bedroom apartments, one 2-bedroom apartment, and two 3-bedroom apartments. Many units have been recently renovated and offer continued upside potential through future rent growth and additional value-add opportunities.
Recent interior improvements include updated kitchens and bathrooms, vinyl plank and hardwood flooring, beautiful wooden decks, and large windows providing abundant natural light throughout many of the units.
Utilities are separately metered and tenant-paid, helping reduce operating expenses and maximize investor returns. The property is currently operating at an attractive 8.0% cap rate with well-maintained mechanicals and on-site parking available for tenants.
Strategically located near Downtown Waterbury, St. Mary's Hospital, grocery stores, shopping, public transportation, and major highways, this property presents an excellent opportunity for investors seeking stable cash flow with long-term appreciation and rental growth potent
Well-maintained 8-unit asset featuring a strong unit mix of five 1-bedroom apartments, one 2-bedroom apartment, and two 3-bedroom apartments. Many units have been recently renovated and offer continued upside potential through future rent growth and additional value-add opportunities.
Recent interior improvements include updated kitchens and bathrooms, vinyl plank and hardwood flooring, beautiful wooden decks, and large windows providing abundant natural light throughout many of the units.
Utilities are separately metered and tenant-paid, helping reduce operating expenses and maximize investor returns. The property is currently operating at an attractive 8.0% cap rate with well-maintained mechanicals and on-site parking available for tenants.
Strategically located near Downtown Waterbury, St. Mary's Hospital, grocery stores, shopping, public transportation, and major highways, this property presents an excellent opportunity for investors seeking stable cash flow with long-term appreciation and rental growth potent
Property Facts
| Price | $895,000 | Building Class | C |
| Price Per Unit | $111,875 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 4,729 SF |
| Cap Rate | 8% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM - 119 - Apartment... | ||
| Price | $895,000 |
| Price Per Unit | $111,875 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,729 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
| Zoning | RM - 119 - Apartment... |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 100 | $1,100 | - |
| 1+1 | 101 | $1,050 | - |
| 3+1.5 | 102 | $1,750 | - |
| 3+1 | 202 | $1,450 | - |
| 1+1 | 203 | $900.00 | - |
| 1+1 | 204 | $950.00 | - |
| 1+1 | 301 | $1,050 | - |
| 1+1 | 302 | $1,050 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | WATE-000254-000159-000035 | Improvements Assessment | $278,320 |
| Land Assessment | $37,100 | Total Assessment | $315,420 |
Property Taxes
Parcel Number
WATE-000254-000159-000035
Land Assessment
$37,100
Improvements Assessment
$278,320
Total Assessment
$315,420
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