Waterbury Multifamily Portfolio 5 Multifamily Properties Offered at $2,160,000 in Waterbury, CT

13-Unit Waterbury Multifamily Portfolio | 5 Properties | Renovated Units | Separate Utilities | Income + Upside
Excellent opportunity to acquire a 13-unit multifamily portfolio consisting of five well-maintained properties located throughout Waterbury’s North and South End neighborhoods. The portfolio includes two 2-family properties and three 3-family properties, offering a strong combination of existing rental income, renovated apartments, large unit layouts, separate tenant-paid utilities, efficient mechanical systems, and additional upside through vacancies and below-market rents.
A major strength of the portfolio is its concentration of larger apartments, including multiple 3-, 4- and 5-bedroom units. Several properties have undergone substantial interior improvements, while separate utilities throughout the portfolio help minimize landlord expenses and create an efficient operating structure. The offering combines stabilized, fully occupied properties with vacant units that provide immediate lease-up potential at current market rents.
44 Piedmont Street – 2-Family | South End: Nicely renovated 2-family featuring clean, updated interiors with fresh neutral finishes, renovated kitchens with stainless steel appliances, updated bathrooms, and newer flooring throughout. The first-floor apartment benefits from approximately 600 additional SF of finished basement space with laundry, providing valuable bonus living area. The property features separate, tenant-paid utilities, including separate electric panels and individual tankless COMBI systems for heat and hot water. Exterior improvements include replacement windows and low-maintenance vinyl siding. A private driveway and additional rear parking provide convenient off-street parking. With renovated units, efficient mechanicals, separate utilities, and additional finished space, this is a strong turnkey component of the portfolio.
65 Drake Street – 3-Family | North End: Renovated 3-family offering an excellent unit mix of three 4-bedroom/1-bath apartments. Two units are currently vacant, creating an opportunity for immediate lease-up at current market rents or potential owner occupancy. The third-floor apartment is currently leased at $1,700 per month. The property features separate and tenant-paid utilities, individual electric panels, and efficient COMBI tankless systems for heat and hot water. Off-street parking further enhances the property. The combination of large four-bedroom units, renovated interiors, updated mechanicals, existing income, and two vacant units provides meaningful near-term income potential.
12 Aetna Street – 3-Family | North End: Well-maintained 3-family offering two 4-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment. One of the four-bedroom units is currently vacant, providing an opportunity for lease-up or owner occupancy, while the remaining two apartments are occupied. The apartments have been renovated and feature separate, tenant-paid utilities, including gas heat and hot water. The property also offers separate electric service, vinyl siding, an asphalt shingle roof, and some off-street parking. Overall, 12 Aetna offers a strong combination of existing tenancy, rental upside, large units, separate utilities, and a well-maintained physical condition.
99 Lounsbury Avenue – 3-Family | South End: Turnkey, 100% occupied 3-family consisting of three 3-bedroom/1-bath apartments. The units have been renovated and the property features low-maintenance vinyl siding. Separate and tenant-paid utilities include gas heat and hot water along with separate electric panels, helping maintain an efficient expense structure. Current rents are below market, providing an opportunity for future income growth without requiring significant physical repositioning. On-street parking contributes to a lower-maintenance ownership profile. Convenient South End location near shopping, transportation, area amenities, major roadways, and ongoing development. With full occupancy, renovated units, separate utilities, and rental upside, 99 Lounsbury provides a stabilized income-producing component of the portfolio.
80 Niagraa St - 2-Family | North End / Wolcott Street Area: Fully occupied 2-family featuring an exceptionally large unit mix. The property consists of a 5-bedroom/2-bath apartment with approximately 1,800 SF and a 4-bedroom/2-bath apartment with approximately 1,340 SF, providing approximately 3,140 SF of combined living area. Both units are occupied and feature separate and tenant-paid utilities, including gas heat and hot water and separate electric panels. Ample off-street parking further enhances the property’s rental appeal. Conveniently located off Wolcott Street with access to shopping, public transportation, major roadways, and area amenities. The combination of nine total bedrooms, large apartment layouts, full occupancy, separate utilities, and off-street parking makes this a strong income-producing asset.
PORTFOLIO HIGHLIGHTS: Collectively, the portfolio offers 13 residential units across five properties with a desirable concentration of larger-bedroom apartments. Renovated interiors, separate tenant-paid utilities, efficient mechanical systems, and generally well-maintained properties help reduce immediate capital requirements while supporting efficient long-term operations. The portfolio provides a balanced investment profile with both current cash flow and identifiable upside. Fully occupied properties generate immediate income, while existing vacancies provide an opportunity for near-term lease-up and the ability to establish rents based on current market conditions. Below-market rents within portions of the portfolio offer additional potential for organic revenue growth over time.
With renovated units, strong 3-, 4- and 5-bedroom configurations, separate utilities, existing occupancy, rental upside, and multiple properties offering off-street parking, this portfolio represents an attractive opportunity to acquire meaningful multifamily scale within the Waterbury market. The concentration of five properties and 13 units provides operational efficiencies while maintaining diversification across multiple assets and neighborhoods. A compelling offering for investors seeking a well-positioned Waterbury multifamily portfolio combining existing income, renovated assets, efficient operating structures, and multiple avenues for future revenue growth.