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701 South Main Street Waterbury, CT 06706
16,154 SqFt
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 16,154 sqft
Price per Sqft $173
MLS Listing ID 24100756
Year Built 1900
Annual Tax Amount $65,541
Lot Size 0.550 Acres
Property Description
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/24% ROI/11+% CAP rate.
Location
State CT
County New Haven
Zoning CG
Interior
Interior Features Window Display
Heating Baseboard, Hot Air
Cooling Window Unit
Exterior
Exterior Feature Sidewalk, Lighting, Door Sign
Parking Features Off Street Parking, Driveway, Unpaved
Utilities Available Electric, Gas, Phone Available, Cable Available
Roof Type Asphalt Shingle,Flat
Building
Lot Description Level Lot
Story 3
Foundation Masonry, Stone
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Amanda Faroni-Sheehan • Oxford Realty
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