35 Mountain Village RdWaterbury, CT 06706

Property Details for 35 Mountain Village Rd

Property size (Sq ft)

14,123 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of sixteen income-producing condos located in Waterbury, Connecticut, at 35 Mountain Village Rd, 06706. The portfolio boasts a total of 14,123 square feet, with each unit averaging $129,688. Currently operating at 88% occupancy, the property generates a strong net operating income (NOI) of $171,453, translating to an 8.26% cap rate and a pro-forma cap rate of 10.78%. The asking price is $2,075,000, representing a price per square foot of $146.92. This value-add opportunity features below-market rents, presenting significant upside potential for increased profitability. The condos are situated within well-maintained complexes, offering a low-maintenance investment. Exterior property management is handled by the Homeowners Associations, minimizing operational burdens. An in-place management team effectively handles tenant relations. The units themselves are a mix of one and two-bedroom condos, many featuring updated interiors, attached garages, and in-unit laundry. Their convenient locations offer proximity to numerous amenities. The durable construction of the buildings ensures long-term stability and value. This portfolio is an ideal investment for those seeking a hands-off approach to real estate ownership with substantial growth potential.

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5388

Longitude

-73.0183

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