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9 Units, Turn Key w/Cash Flow + Big Unit Mix 203 S Leonard St 9 Unit Apartment Building $950,000 ($105,556/Unit) 8.86% Cap Rate Waterbury, CT 06708
INVESTMENT HIGHLIGHTS
- 10% ROI + Turn Key
- 8/9 Renovated Units
- Rents Below Market = Big Upside
- Big Unit Mix: (5) 3 Bed, (1) 2 bed & 3 Studios
- Ample Off Street Parking
- Can be purchased as part of a larger portfolio
EXECUTIVE SUMMARY
Fantastic investment opportunity that's turn key and cash flowing with 10% ROI and upside! This corner building is a total of 9 units with big unit mix featuring (5) 3 bed/1 bath units, (1) 2 bed, 1 bath unit & 3 studios/1 bath units. All units are spacious AND renovated (8/9) with new flooring throughout, updated kitchens (appliances, cabinets, counters, fixtures); updated bathrooms and overall newer paint + fixtures. All utilities are separate & tenant paid - gas or electric heat and hot water + separate electrical. There are laundry hookups in most units. There is ample off-street parking for 10+ cars. Low maintenance and turn key opportunity ready for a new owner! Good location for tenants near the highway and downtown for easy access to amenities. Rents are below market = BIG UPSIDE with 11+% CAP pro-forma. This property can be purchased as part of a larger portfolio sale.
PROPERTY FACTS
| Price | $950,000 | Apartment Style | Garden |
| Price Per Unit | $105,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 8.86% | Building Size | 6,458 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1902 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Zoning | IG | ||
| Price | $950,000 |
| Price Per Unit | $105,556 |
| Sale Type | Investment |
| Cap Rate | 8.86% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 6,458 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1902 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | IG |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Washer/Dryer Hookup
- Eat-in Kitchen
- Tub/Shower
- Handrails
- Porch
SITE AMENITIES
- Laundry Facilities
- Trash Pickup - Curbside
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 5 | $1,500 | - |
| 2+1 | 1 | $1,200 | - |
| Studios | 3 | $1,000 | - |
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PROPERTY TAXES
| Parcel Number | WATE-000414-000322-000009 | Improvements Assessment | $328,020 |
| Land Assessment | $43,750 | Total Assessment | $371,770 |
PROPERTY TAXES
Parcel Number
WATE-000414-000322-000009
Land Assessment
$43,750
Improvements Assessment
$328,020
Total Assessment
$371,770
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9 Units, Turn Key w/Cash Flow + Big Unit Mix | 203 S Leonard St
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