7.5% CAP | 7 Units + 3 Car Garage w/Value Add
7 Unit Apartment Building | $595,000 ($85,000/Unit) | 7.49% Cap Rate | Waterbury, CT 06704
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $595,000
- Property Type
-
Multifamily
- Square Feet
- 4,710 SF
Listing Contacts
Amanda Faroni-Sheehan
Verified Profile
- Property Info
Property Overview
7.5% CAP - 7 Units + 3 car-garage in Long Hill Neighborhood. There is one 1 bed/1 bath unit and the larger building with six 2 bed/1 bath units. The property is 100% occupied. Three-car detached garage in back also rented and off-street parking. The utilities are separate and tenant paid - a mix of gas and electric. Most of the rents are below market = good upside for a 9% CAP/pro-forma. Minimal yard = low/inexpensive exterior maintenance. Great opportunity for value add asset.
Property Details
- Class
- C
- Year Built/Renovated
- 1919/2020
- Stories
- 3
- Lot Size (sq. ft)
- 11,761 SF
- Units
- 7
Highlights
- 7 Units
- 100% Occupied
- 3 Car Garage = Additional Income
- Separate & Tenant Paid Utilities
- Off-Street Parking
- Rents Below Market = Upside
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