5 Hill Street
Waterbury, Connecticut

Description:

Excellent opportunity to acquire a strong cash-flowing 7-unit mixed-use investment property featuring six spacious 3-bedroom residential apartments and one commercial storefront. Currently operating at an impressive 10% CAP rate, this property offers investors strong in-place income from day one, along with significant upside through future rent growth. Many of the residential units have been renovated and feature updated kitchens and bathrooms, vinyl plank and hardwood flooring, and generous 3-bedroom layouts. The property has also benefited from additional improvements and well-maintained mechanicals, providing a solid foundation for the next owner while leaving room to further increase value and rental income over time. Utilities are separately metered and tenant-paid, helping keep operating expenses low and maximizing overall investment performance. Adding even more value, the sale includes a 12-car parking lot located directly across the street, providing highly desirable off-street parking for residents. Conveniently located near Downtown Waterbury, St. Mary's Hospital, shopping, grocery stores, public transportation, and major highways, this is a compelling investment for buyers seeking strong immediate cash flow, a double-digit CAP rate, renovated units, rent upside, and long-term appreciation potential.

Listing Courtesy of Sky Realty Group