701-703 S Main St - Storefront Retail/Residential FOR SALE


Waterbury, CT 06706- Downtown Waterbury
$2,800,000 USD
203-314-4219
701-703 S Main St, Waterbury, CT for Sale
$2,800,000 USD
Storefront Retail/Residential - FOR SALE
1/27
null | 7.69% Cap Rate

701-703 S Main St
Waterbury, CT 06706
Downtown Waterbury


HIGHLIGHTS

  • 25 Units Total
  • Turn-Key Portfolio Almost Entirely Renovated in 2017 – Inside & Out
  • Big Unit Mix: (6) 4 bed units, (11) 3 bed units and (6) 2 bed units
  • 5/6 Buildings: Separate & Tenant Paid Utilities
  • Ample Off-Street Parking
  • Rents Below Market = BIG UPSIDE

OVERVIEW

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/23% ROI/11+% CAP rate.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$1,472 USD /SF

CAP RATE

7.69%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

25 Unit Portfolio|Big Units|Totally Turn Key

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

CG

APN/PARCEL ID

WATE-000369-000293-000006

ASK ABOUT THIS PROPERTY

Amanda SheehanOxford RealtyMore Info
203-314-4219

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Amanda SheehanOxford RealtyMore Info
203-314-4219

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.