25 Units Turn-Key w/Big Unit Mix 3 Multifamily Properties Offered at $2,800,000 in Waterbury, CT



INVESTMENT HIGHLIGHTS
- 25 Units
- Big Unit Mix
- Separate & Tenant Paid Utilities
- Turn Key Portfolio
- Entirely Renovated Inside & Out 2017
- Ample Off-Street Parking
EXECUTIVE SUMMARY
Oxford Realty is pleased to present this TURN KEY portfolio opportunity in the South End almost entirely renovated inside and out! The sale consists of 3 adjacent parcels with 6 buildings = 23 apartments and 2 commercial spaces for a total of 25 units. The unit mix is: (6) 4 bed units, (11) 3 bed units and (6) 2 bed units. 5 Bldgs feature separate, and tenant paid utilities - all electric H, HW & cooking. Bldg 701 has 6 apartments with owner paid gas heat (only), and separate, tenant paid electric + hot water. 5 out of 6 Bldgs have undergone the City of Waterbury de-leading program + plus are completely renovated with new vinyl siding, replacement windows, interior unit updates, updated electrical, new/rebuilt porches and roofs (all in 2017). Majority of the units have hardwood floors throughout, huge layouts, updated kitchens and baths. Historically low vacancy and strong tenant base. There is a common/coin op laundry room in Bldg 691 for all tenants to use. The 2 commercial spaces are separate utilities and need total renovation. There is ample, off-street parking for each property, with a total of over 20 spaces combined. Great location for tenants with easy access to i84 & Rt8. Most of the rents are under market which offers huge UPSIDE potential w/24% ROI/11+% CAP rate.
PROPERTY FACTS
Price | $2,800,000 |
Price / SF | $77.19 / SF |
Sale Condition | Bulk/Portfolio Sale |
Cap Rate | 7.69% |
Sale Type | Investment |
Status | Active |
Number of Properties | 3 |
Individually For Sale | 0 |
Total Building Size | 36,276 SF |
Total Land Area | 1.78 AC |
PROPERTIES
PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
---|---|---|---|---|
685 S Main St, Waterbury, CT 06706 | Multifamily | 6,834 SF | 1900 | - |
701-703 S Main St, Waterbury, CT 06706 | Multifamily | 6,716 SF | 1900 | - |
675 S Main St, Waterbury, CT 06706 | Multifamily | 22,726 SF | 1900 | - |
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