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16 Units + 5 Garages: Turn Key w/Upside! 197 S Leonard St 16 Unit Apartment Building $2,093,880 CAD ($130,868 CAD/Unit) 7.18% Cap Rate Waterbury, CT 06708
INVESTMENT HIGHLIGHTS
- 16 Units + 5 Car Garage
- Studios, 1 Beds & 2 Bed Units
- All separate & tenant paid utilities
- Turn Key
- Mostly renovated units
- Can be purchased as part of a larger portfolio
EXECUTIVE SUMMARY
Fantastic S End investment opportunity that's turn key with upside. This corner building is a total of 16 units that feature 2 beds, 1 beds and studio units. Many of the units offer a variety of renovations including new flooring, paint, fixtures, kitchen cabinets, counters, appliances and updated bathrooms. The hallways have been recently painted with new flooring as well. All utilities are separate & tenant paid - gas heat and hot water + separate & tenant paid electrical. There is fire monitoring throughout the building. There is a 5-car garage in back and some off-street parking for cars. Low maintenance with super on site and turn key opportunity ready for a new owner! Good location for tenants near the highway and downtown for easy access to amenities. Rents are below market = BIG UPSIDE with 12.8+% ROI pro-forma. This property can be purchased as part of a larger portfolio sale.
PROPERTY FACTS
| Price | $2,093,880 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $130,868 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.18% | Building Size | 16,000 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.69/1,000 SF |
| Zoning | IG | ||
| Price | $2,093,880 CAD |
| Price Per Unit | $130,868 CAD |
| Sale Type | Investment |
| Cap Rate | 7.18% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 16,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1900/2023 |
| Parking Ratio | 0.69/1,000 SF |
| Zoning | IG |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Cable Ready
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Handrails
- Porch
- Vinyl Flooring
SITE AMENITIES
- Trash Pickup - Curbside
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
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PROPERTY TAXES
| Parcel Number | WATE-000414-000322-000004 | Improvements Assessment | $533,971 CAD |
| Land Assessment | $159,442 CAD | Total Assessment | $693,413 CAD |
PROPERTY TAXES
Parcel Number
WATE-000414-000322-000004
Land Assessment
$159,442 CAD
Improvements Assessment
$533,971 CAD
Total Assessment
$693,413 CAD
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16 Units + 5 Garages: Turn Key w/Upside! | 197 S Leonard St
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