Fully Renovated 6-Unit Apartment
227 Hillside Ave Waterbury, CT 06710
227 Hillside Ave, Waterbury, CT, 06710
$750,000
For Sale
$750,000
Turnkey, fully renovated 6-unit building with updated interiors, a coin/card laundry room, and recent roof improvements.
Property Size4,800 SF
Price / SF$156.25
Days on Market8
Property Features for 227 Hillside Ave
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency
OXFORD REALTY
(203) 314-4219
Listed by
Amanda R. Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source
Elliman
Added: Jul 14 Updated: Jul 20 at 6:07 pm Checked: Jul 20 at 6:07 pm
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 OXFORD REALTY
Investment Insights
Based on property information with market context.
This fully renovated 6-unit apartment building is configured as six spacious 2-bedroom, 1-bath units. Each apartment has been updated with white cabinetry, durable laminate flooring, updated appliances and fixtures, vinyl replacement windows, fire-rated entry doors, and keyless entry systems with remote owner access.
The property also features significant mechanical and building improvements, including high-efficiency combi boilers with backup boilers, and tankless water heaters. Additional upgrades include a smart water meter with automatic leak detection and shutoff, a security system, LED motion-sensor lighting in common areas, and a fire/emergency alarm system with a direct connection to the Fire Department. The roof is approximately 4 years old, and there is a basement sprinkler system. A coin/card-operated laundry room provides additional income.
With convenient access to shopping, restaurants, public transportation, Downtown Waterbury, Route 8, and I-84, the building is offered as a turnkey investment with in-place occupancy.
The property also features significant mechanical and building improvements, including high-efficiency combi boilers with backup boilers, and tankless water heaters. Additional upgrades include a smart water meter with automatic leak detection and shutoff, a security system, LED motion-sensor lighting in common areas, and a fire/emergency alarm system with a direct connection to the Fire Department. The roof is approximately 4 years old, and there is a basement sprinkler system. A coin/card-operated laundry room provides additional income.
With convenient access to shopping, restaurants, public transportation, Downtown Waterbury, Route 8, and I-84, the building is offered as a turnkey investment with in-place occupancy.
Key Highlights
- Fully renovated 6‑unit multifamily built in 1920; 100% occupied
- Unit mix: six 2‑bed, 1‑bath apartments, each approx. 800 SF
- Updated apartments include white cabinetry, durable laminate flooring, updated appliances and fixtures, vinyl replacement windows, and keyless entry with remote owner access
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 | $95.0k | $19.80 |
| − Vacancy | −$6.5k | −$1.35 |
| EGI | $88.6k | $18.45 |
| − OpEx | −$39.9k | −$8.30 |
| NOI | $48.7k | $10.15 |
4,800 SF · lease $19.80/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$696.0K
$609.0K – $812.0K
NOI $48,718 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,165 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Turnkey, fully renovated 6-unit building with updated interiors, a coin/card laundry room, and recent roof improvements.
Where is this apartment building located?
The property is located at 227 Hillside Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Fully renovated 6‑unit multifamily built in 1920; 100% occupied; Unit mix: six 2‑bed, 1‑bath apartments, each approx. 800 SF; Updated apartments include white cabinetry, durable laminate flooring, updated appliances and fixtures, vinyl replacement windows, and keyless entry with remote owner access
