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Waterbury Grove 144 Grove St 44 Unit Apartment Building $3,520,000 ($80,000/Unit) 6.50% Cap Rate Waterbury, CT 06710
Executive Summary
Sky Realty Group is pleased to present this well-positioned 44-unit multifamily offering. Anchored by a classic 42-unit brick building, the package also includes a two-unit duplex located on the same parcel. The unit mix consists of 25 studios and 19 one-bedroom apartments. Originally built in 1925, the main building spans 25,312 square feet on 0.19 acres and offers significant value-add potential, with current rents well below market.The property features hardwood and laminate flooring, gas heat and hot water paid by the landlord, and tenant-paid electricity and cooking gas. Recent capital improvements include a new roof and central boiler installed in 2023. Amenities include a 24/7 security system, controlled access, over 20 off-street parking spaces, and a coin-operated laundry room.Located less than a mile from I-84 and Route 8, and close to downtown, shopping, public transportation, restaurants, and nightlife, this asset is well-positioned in a high-demand rental market. Financials available upon request.
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- Operating and Financials
Property Facts
| Price | $3,520,000 | Building Class | B |
| Price Per Unit | $80,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 25,312 SF |
| Cap Rate | 6.50% | No. Stories | 5 |
| No. Units | 44 | Year Built/Renovated | 1925/2001 |
| Property Type | Multifamily | Parking Ratio | 0.79/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | RM | ||
| Price | $3,520,000 |
| Price Per Unit | $80,000 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 25,312 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1925/2001 |
| Parking Ratio | 0.79/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | $1,055 | - |
| Studios | 19 | $978.00 | - |
1 1
Walk Score®
Very Walkable (82)
Property Taxes
| Parcel Number | WATE-000254-000159-000031 | Improvements Assessment | $1,186,920 |
| Land Assessment | $280,000 | Total Assessment | $1,466,920 |
Property Taxes
Parcel Number
WATE-000254-000159-000031
Land Assessment
$280,000
Improvements Assessment
$1,186,920
Total Assessment
$1,466,920
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Waterbury Grove | 144 Grove St
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