9 2Nd AveWaterbury, CT 06710

Property Details for 9 2Nd Ave

Year built

1883

Lot size

0.12 AC

Property size (Sq ft)

2,203 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This Waterbury, CT multifamily property presents a compelling value-add opportunity. Located at 9 2nd Ave, 06710, this three-story, 2,203 square foot building sits on a 0.12-acre lot and boasts a permitted RM zoning classification. Built in 1883 and renovated in 2020, the property includes two units: a 2-bedroom, 1-bathroom unit on the first floor and a 3-bedroom, 1-bathroom unit on the second. Both units feature hardwood floors, high ceilings, large windows, and open floor plans. Utilities (gas heat and hot water, electricity) are separately metered and paid by tenants. The property includes four off-street parking spaces via a private driveway, plus a detached two-car garage offering additional parking or potential rental income. A large, unfinished walk-up attic presents significant expansion potential. Currently vacant, the property is projected to generate a $36,599 pro-forma NOI, with a pro-forma cap rate of 14.91%. The asking price is $245,500, representing $111.44 per square foot and $122,750 per unit. Its convenient location provides easy access to downtown Waterbury, major highways, and public transportation. This property offers substantial upside for the savvy investor.

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5602

Longitude

-73.0426

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