54 High StWaterbury, CT 06704

Property Details for 54 High St

Year built

1885

Lot size

0.07 AC

Property size (Sq ft)

3,684 SF

Zone code

RM

Property type

Investment properties

Property subtype

Live-work space

APN

WBRY M:0276 B:0597 L:0100

APU

WBRYM0276B0597L0100

Description

This exceptional mixed-use investment opportunity in Waterbury, Connecticut, presents a compelling blend of immediate cash flow and significant upside potential. Located at 54 High St, 06704, this property comprises two buildings on a 0.1-acre lot, totaling 4,428 square feet. The main building, a three-story structure, features a ground-floor commercial space with a five-year lease and three renovated two-bedroom, one-bathroom apartments above. A separate single-family residence with two bedrooms, an eat-in kitchen, and a large open floor plan is also included, boasting a semi-finished basement with laundry hookups. The entire property underwent a complete renovation in 2023, encompassing new roofing, siding, windows, electrical systems, plumbing, and comprehensive unit renovations including sheetrock, ceilings, flooring, kitchens, and bathrooms. The property currently boasts a 75% occupancy rate, generating a net operating income (NOI) of $62,863, representing an 8.98% capitalization rate. Pro forma projections indicate a 10.22% cap rate and a NOI of $71,533 with full occupancy. Five parking spaces are available. All utilities are separately metered and paid by tenants. The property is zoned RM and offers a compelling opportunity for an owner-user or investor seeking a stabilized, high-cash-flow asset in a desirable location. The asking price is $699,900, translating to $158.06 per square foot and $139,980 per unit. This turnkey property is ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $609,075

  6.5%

  $562,223

  7%

  $522,064

• Comparable approach

  Method

  Valuation

  Relative Method

  $481,351

  Geo Method

  $481,351

• Alternative Use

  Use

  Valuation

  Residential

  $697,157

  Hospitality

  $638,592

  Educational

  $531,301

  Medical

  $549,573

  Retail

  $826,468

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5571

Longitude

-73.0319

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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