Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 Beacon Street Waterbury, CT 06704

    View on Map
    Claim this Listing
    For Sale
    $499,000

    MULTI_FAMILY - Waterbury, CT

    Property size:
    2,795 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $178/SF
    Added:
    Mar 13, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 29 at 9:06 pm

    Property Features for 23 Beacon Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2
    Basement
    Crawl Space
    Standard status
    Active
    Size
    2,795 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4128

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1903

    We can help!

    Listing Contact
    Melanie Scull

    Listing agent Melanie Scull License #RES.0831146

    Listing office William Pitt Sotheby's Int'l 696 Boston Post Road, Stamford, CT

    Listing date Mar 13, 2026

    MLS# 24155841 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Income-Producing Multifamily Property

    This income-producing three-family property features spacious two-bedroom units on each of its three floors. The property offers positive cash flow with tenant-paid utilities, resulting in low owner expenses. One floor is currently leased at market value. Another floor has been freshly renovated and is listed for rent. The third floor is scheduled to become vacant at the end of the month. The proforma rent roll is estimated at $4200-4800 per month. Off-street parking is available. This property presents a compelling opportunity for investors looking to build or expand their multifamily portfolio. The property size is 2795 square feet, situated on a 0.14-acre lot. The zoning is RM. This property is located in Waterbury, CT.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.035875
    Latitude
    41.563326

    Nearby Similar for Sale

    • $1,100,000
      6,560 SF

      Versatile Commercial Space Near I-84

      Adaptable commercial property with industrial and retail potential near I-84.
      649 Captain Neville Drive, Waterbury, CT 06705
      View Details
    • $450,000
      2,450 SF

      Mixed-Use Property in Waterbury, CT

      Four units: three residential, one commercial space in Waterbury.
      210 Bishop Street, Waterbury, CT 06704
      View Details
    • $455,000
      2,860 SF

      Well-Maintained Multifamily Home

      Excellent investment opportunity in a sought-after location.
      2784 E Main Street, Waterbury, CT 06705
      View Details
    • $350,000
      3,088 SF

      Waterbury Multi-Family Investment Opportunity

      Three-family property with significant upside potential and recent upgrades.
      35 Frederick Street, Waterbury, CT 06710
      View Details
    • $525,000
      2,938 SF

      Well-Maintained Multifamily Property

      Income-generating three-family home near highway, shopping, and schools.
      41 Diane Terrace, Waterbury, CT 06705
      View Details
    • $1,100,000
      15,974 SF

      Retail Shopping Center Strip Mall

      Retail strip mall with stores and rentable lower level.
      1014 Meriden Road, Waterbury, CT 06705
      View Details
    • $419,900
      3,896 SF

      Waterbury Three-Family Home For Sale

      Three-family home in Waterbury with updated features and income potential.
      155 Sylvan Avenue, Waterbury, CT 06706
      View Details
    • $399,000
      2,588 SF

      Renovated Triplex Investment Opportunity

      Renovated three-family property with income potential in Waterbury, CT.
      27 Beacon Street, Waterbury, CT 06704
      View Details
    • $599,900
      3,754 SF

      Waterbury Multifamily Rooming House

      Fully occupied 14-unit rooming house with garage.
      34 Mitchell Avenue, Waterbury, CT 06710
      View Details
    • $380,000
      2,525 SF

      Waterbury Three-Family Investment Opportunity

      Well-maintained three-family property with immediate rental income potential.
      12 Benham Street, Waterbury, CT 06708
      View Details
    • $4,750,000
      93,086 SF

      Institutional Building in Waterbury, CT

      93,000 SF building suitable for redevelopment or adaptive reuse.
      44 Abbott Terrace, Waterbury, CT 06702
      View Details
    • $750,000
      6,836 SF

      Waterbury Multi-Unit Investment Opportunity

      Well-maintained multi-unit property with income potential in a strong rental market.
      121 Lounsbury Street, Waterbury, CT 06706
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Three-unit multifamily property with positive cash flow potential.
    Where is this multifamily property located?
    The property is located at 23 Beacon Street Waterbury, CT.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Income‑producing 3‑family property with positive cash flow; Proforma 7‑8% CAP rate with strong upside potential; $4200‑4800/month proforma rent roll
    (323) 314-0888
    We can help!
    Listing Contact
    Melanie Scull
    Real Estate License ID: RES.0831146
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!