701 S Main Street, Waterbury, CT 06706 (MLS # 24196502)

Price $2,600,000
Status Active
Beds 4
Baths 1 Bath
Home size 7,728 sqft
Lot Size 5,228 sqft
Days on Market 15
Truly turn-key portfolio opportunity in Waterbury's South End, offering strong in-place cash flow with upside with 8% 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 for 12% CAP rate (pro-forma).
Property Type(s): Multi Family
Last Updated 8/3/2026 Year Built 1900
County New Haven

SCHOOLS

Elementary School Per Board of Ed
High School Per Board of Ed

Additional Details

AIR Window Unit(s)
AIR CONDITIONING Yes
APPLIANCES Electric Water Heater
BASEMENT Full, Unfinished, Yes
CONSTRUCTION Frame, Vinyl Siding
HEAT Baseboard, Electric, Forced Air, Natural Gas
LOT 5227 sq ft
LOT DESCRIPTION Level
PARKING Paved, Off Street, Private, Unpaved, Driveway
SEWER Public Sewer
STYLE Units are Side-by-Side, Units on different Floors
TAXES 13916
WATER Public
ZONING CG

Location

 

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