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

Mixed-use properties

Property subtype

Other investment properties

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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