495 Scott RdWaterbury, CT 06705

Property Details for 495 Scott Rd

Year built

1986

Property size (Sq ft)

11,204 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents an eight-unit single-family rental portfolio located at 495 Scott Road, Waterbury, Connecticut, 06705. The property boasts a total of 11,204 square feet, with each unit commanding a price of $156,875. Built in 1986, this portfolio offers a current cap rate of 6.34%, projected to increase to 13.56% through value-add strategies. Currently enjoying 100% occupancy, the property features two-bedroom condos, each with an attached garage. Situated in a high-income area of Waterbury, just ten minutes from the downtown area, this portfolio presents a significant value-add opportunity due to below-market rents. Landlord responsibilities are minimized as the condo association handles the majority of property maintenance. The property is zoned residential and offers a significant opportunity for a new owner to become the largest owner within this well-maintained condo complex. The asking price for this portfolio is $1,255,000, translating to $112.01 per square foot.

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5339

Longitude

-72.9825

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