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28 Hill St 7 Unit Apartment Building $800,000 ($114,286/Unit) 9.15% Cap Rate Waterbury, CT 06704
Executive Summary
28 Hill St, Waterbury is a turn-key 7-unit multifamily investment property ideally located in the heart of Waterbury, perfect for investors or 1031 Buyers looking to secure a cash flowing asset. This property generates $111,600 in annual gross income and offers a strong rental history with six occupied units and one ready for a new tenant unit ready for immediate lease-up, allowing for quick stabilization. Fully renovated in 2025, the property features modern unit finishes, updated mechanical systems, and low-maintenance utilities, providing long-term durability and reduced operating expenses. An excellent opportunity for investors seeking a stable, cash-flowing asset in a high-demand rental market. Conveniently located near shopping, public transportation, and major highways, ensuring easy access for tenants and consistent occupancy history.
Property Facts Under Contract
| Price | $800,000 | Property Subtype | Apartment |
| Price Per Unit | $114,286 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9.15% | Lot Size | 0.10 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,914 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Zoning | RM | ||
| Price | $800,000 |
| Price Per Unit | $114,286 |
| Sale Type | Investment |
| Cap Rate | 9.15% |
| Sale Condition | 1031 Exchange |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,914 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | RM |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (73)
Property Taxes
| Parcel Number | WATE-000237-000179-000005 | Improvements Assessment | $255,150 |
| Land Assessment | $49,000 | Total Assessment | $304,150 |
Property Taxes
Parcel Number
WATE-000237-000179-000005
Land Assessment
$49,000
Improvements Assessment
$255,150
Total Assessment
$304,150
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28 Hill St
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