5 Hill Street
Waterbury, Connecticut

Description:

Exceptional 7-Unit Mixed-Use Investment Opportunity Well-maintained 7-unit mixed-use property featuring six spacious 3-bedroom residential apartments and one commercial storefront. The property is currently operating at a solid 8% CAP rate with strong rent upside, offering investors attractive in-place cash flow with additional potential through future rent growth. Many of the residential units have been renovated and feature updated kitchens and bathrooms, vinyl plank and hardwood flooring, and spacious layouts. Additional improvements throughout the property, including well-maintained mechanicals, allow investors to benefit from existing upgrades while still having opportunities to further enhance the property and increase rents over time. Utilities are separately metered and tenant-paid, helping reduce operating expenses and improve overall investment performance. A 12-car parking lot located directly across the street is included in the sale, providing valuable off-street parking for tenants. Conveniently located near Downtown Waterbury, St. Mary's Hospital, shopping, grocery stores, public transportation, and major highways, this property offers a compelling combination of strong in-place cash flow, recent renovations, significant rent upside, and long-term appreciation potential.

Listing Courtesy of Sky Realty Group