REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,650,000
Est. payment /mo
Active
701 South Main Street Waterbury, CT 06706
23 Baths
5,227 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24163820
Full Baths 23
Year Built 1900
Annual Tax Amount $14,443
Lot Size 5,227 Sqft
Property Description
Truly turn-key portfolio opportunity in Waterbury's South End, offering strong in-place cash flow with upside with 8.5% CAP actual. The sale includes three adjacent parcels comprising six buildings with a total of 25 units: 23 residential apartments and two commercial spaces. The residential unit mix consists of (6) four-bed units, (11) three-bed units, and (6) two-bed units. Five of the six buildings feature separate, tenant-paid utilities, all electric heat, hot water, and cooking. Building 701 includes six apartments with owner-paid gas heat only, while electric and hot water remain tenant-paid. Five of the six buildings have completed the City of Waterbury de-leading program and have been extensively renovated, including new vinyl siding, replacement windows, updated interiors, upgraded electrical systems, rebuilt porches, and newer roofs (2017). Most apartments offer hardwood flooring, expansive layouts, and updated kitchens and baths. The portfolio has demonstrated historically low vacancy and a strong tenant base. A common coin-operated laundry room is in Building 691 and is available to all tenants. The two commercial units have separate utilities and present a value-add opportunity, as they require full renovation. The properties offer ample off-street parking, with over 20 combined parking spaces. Convenient location with easy access to I-84 and Route 8. Many rents remain below market, providing significant upside as well.
Location
State CT
County New Haven
Zoning CG
Interior
Heating Baseboard
Cooling Window Unit
Flooring Tile, Wood
Exterior
Exterior Feature Sidewalk, Gutters, Lighting
Parking Features Off Street Parking, Driveway
Utilities Available Electric, Gas, Phone Available, Cable Available
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Story 4
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Amanda Faroni-Sheehan • Oxford Realty
NEARBY SCHOOL & BUSINESS