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9 Units w/9% CAP: Close to Downtown 2 Properties Offered at $920,000 in Waterbury, CT
INVESTMENT HIGHLIGHTS
- 2 Adjacent Properties
- Big Unit Mix - 3 Beds & (2) 2 Beds
- Ample Off Street Parking
- 2 Family + 7 Units Mixed Use
- Separate & Tenant Paid Utilities
- Close to Downtown
EXECUTIVE SUMMARY
Investors take notice of this package offering 2 adjacent properties with cash flow and big unit mix with a 9% CAP! TOTAL OF 9 UNITS = 8 apartments + 1 large commercial space. 57 Cherry St is a 2-family with two 2 bed/1 bath units - fully occupied. The property has separate & tenant paid utilities. 63 Cherry is a large mixed-use building with six 3 bed/1 bath apartments + 1 large commercial space - fully occupied. The units are mostly renovated w/newer floors, kitchens, baths and fixtures + laundry hookups and mechanicals in each apartment (gas heat & HW + panels in each unit). The utilities are all separate and tenant paid. No basement in #63 - tobacco shop uses the ground level - also separate and tenant paid utilities. Driveway between both buildings + 3 garages and parking for tenants in back. Literally buy and cash flow! Rents are below market = UPSIDE for 24+% ROI.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$130,320
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$130,320
|
| Taxes |
$19,447
|
| Operating Expenses |
$22,840
|
| Total Expenses |
$42,287
|
| Net Operating Income |
$88,033
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $130,320 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $130,320 |
| Taxes | |
|---|---|
| Annual | $19,447 |
| Operating Expenses | |
|---|---|
| Annual | $22,840 |
| Total Expenses | |
|---|---|
| Annual | $42,287 |
| Net Operating Income | |
|---|---|
| Annual | $88,033 |
PROPERTY FACTS
| Price | $920,000 | Number of Properties | 2 |
| Price / SF | $271.87 / SF | Individually For Sale | 0 |
| Cap Rate | 8.86% | Total Building Size | 3,384 SF |
| Sale Type | Investment | Total Land Area | 0.26 AC |
| Status | Active |
| Price | $920,000 |
| Price / SF | $271.87 / SF |
| Cap Rate | 8.86% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 3,384 SF |
| Total Land Area | 0.26 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 55-57 Cherry St, Waterbury, CT 06702 | Multifamily | 1,734 SF | 1965 | - |
| 63 Cherry St, Waterbury, CT 06702 | Retail | 1,650 SF | 1915 | - |
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9 Units w/9% CAP: Close to Downtown
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