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    Eleven-Unit Apartment Building For Sale Title is generated by Realmo AI

    133 Hillside Avenue, Waterbury, CT 06710

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    For Sale
    $1,199,900

    Eleven-unit apartment building with recent updates and separately metered utilities.

    Type:5 Family+
    Property size:
    5,934 SF
    Price / SF:
    $202/SF
    Added:
    Apr 3, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 20 at 7:38 pm

    Property Features for 133 Hillside Avenue

    General Information

    Standard status
    Active
    Size
    5,934 SF
    Property subtype
    5 Family+

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Lucas Chaves

    Listing agent Lucas Chaves

    Listing office Coldwell Banker Calabro

    Listing date Apr 3, 2026

    Source Lockandkeyre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Calabro

    HighLights

    • Low‑Maintenance: simplifying upkeep and reducing potential issues.
    • Updated Units: Most units have been updated in the past year, and the interior has been recently painted.
    • Separately Metered Units: All units are separately metered for electric, allowing for easy billing.
    • Recent Upgrades: Roof and siding are only 4 years old, new mailboxes installed 1 year ago, and new canopies built in 2026.
    • Security Features: Equipped with 8 ring cameras (from 2025) for enhanced security.
    • Potential for Expansion: Opportunity to combine with nearby property (MLS# 24163790) for increased cash flow.

    Overview

    This is an eleven-unit apartment building featuring a mix of unit sizes. Two units offer two bedrooms, a kitchen, a living room, and one full bathroom. Five units are large one-bedroom apartments with a living room, kitchen, and one full bathroom. The remaining four units are smaller, with one bedroom, a kitchen, and one full bathroom. Each unit is separately metered for electricity and equipped with electric baseboard heating, individual sub panels, and its own electric hot water heater. The owner is responsible only for common area electricity expenses, including lights, cameras, and internet, which are on a separate owner's meter. A pressure reducer valve has been installed on the main water line. The city handles trash removal. The roof and siding were replaced four years ago, and new locked mailboxes were installed one year ago. Eight ring cameras were installed in 2025. All meters and apartments are labeled. Most units have been updated over the past year, and almost the entire interior of the building has been painted. Two new canopies were built in 2026 for two back apartments. The building size is 5934 square feet. The owner is selling due to relocation out of state.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $117.5k $19.80
    − Vacancy −$8.0k −$1.35
    EGI $109.5k $18.45
    − OpEx −$49.3k −$8.30
    NOI $60.2k $10.15
    5,934 SF · lease $19.80/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $860.4K
    $752.8K – $1.00M (±1% cap)
    NOI $60,227 @ 7.0% cap · market cap 5.02%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.57M
    $1.38M – $1.84M (±1% cap)
    NOI $110,230 @ 7.0% cap · market cap 9.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply 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
    -73.0451908
    Latitude
    41.5612904

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      Eleven-Unit Apartment Building For Sale

      Eleven-unit apartment building with recent updates and separately metered utilities.
      133 Hillside Avenue, Waterbury, CT 06710
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    FAQs

    What type of property is this?
    Apartment building - Eleven-unit apartment building with recent updates and separately metered utilities.
    Where is this apartment building located?
    The property is located at 133 Hillside Avenue Waterbury, CT.
    What is the asking price?
    The asking price for this property is $1,199,900.
    What are key features of this property?
    This property features: Low‑Maintenance: simplifying upkeep and reducing potential issues.; Updated Units: Most units have been updated in the past year, and the interior has been recently painted.; Separately Metered Units: All units are separately metered for electric, allowing for easy billing.
    (203) 715-2772
    We can help!
    Listing Contact
    Lucas Chaves
    Learn More
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    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
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