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12-Unit Apartment Buildings with Rehab Upside
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23 W Porter St, Waterbury, CT 06708

Two adjacent apartment properties combine stabilized occupancy with a fully gutted building requiring interior renovation.

Property SizeContact for details
Days on Market143

Property Features for 23 W Porter St

General Information

Standard status Active
Property subtype Multifamily

Property Condition

Severity Major Repairs Needed
Evidence fully gutted and needs interior renovation

Site & Location

Highway Access Yes
Utilities to Site Yes

Units

Unit Mix 12 x 2BR/1BA
Multifamily Units 12

Building Details

Buildings 2
Listing Agency: OXFORD REALTY
Listed By: Amanda Faroni-Sheehan · License #REB.0793328 CT
Source: Crexi
Added: Apr 12 Changed: Aug 31 Last Checked: Aug 30 at 11:52PM

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.

The offering includes two adjacent six-unit apartment buildings totaling 12 units, connected by a shared driveway with rear parking. The units are consistently configured as two-bedroom, one-bath apartments. The property at 23 W Porter St is fully occupied and includes vinyl siding, some replacement windows, updated electrical with circuit breakers, newer water heaters, and in-unit washer-dryer hookups. Utilities are separately metered and paid by tenants, with electric heat and gas-fired hot water and cooking.

The second six-unit building, identified as #27, is fully gutted and requires interior work encompassing electrical, plumbing, HVAC, sheetrock, flooring, and finishes. Both buildings have vinyl siding and roofs less than 5 years old, along with some replacement windows. The properties are across from Duggan School and near Town Plot, highway access, and local dining and shopping.

Key Highlights

  • 12 units across two adjacent six‑unit apartment buildings
  • 23 W Porter St is fully occupied with all 2 bed/1 bath units
  • #27 is fully gutted and requires electrical, plumbing, HVAC, sheetrock, flooring, and finish work

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Catering Service Florist Carpet & Flooring Store Storage Facility Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12
Residential units
Yes
Highway access
Yes
Utilities to site

Location Intelligence

Trade Area within ½ mile

674
Businesses Nearby

Demographics for 06708, CT

30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022
4.6% 2023
5.3% 2024
5.6% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Apartment building - Two adjacent apartment properties combine stabilized occupancy with a fully gutted building requiring interior renovation.
Where is this apartment building located?
The property is located at 23 W Porter St Waterbury, CT.
What are key features of this property?
This property features: 12 units across two adjacent six‑unit apartment buildings; 23 W Porter St is fully occupied with all 2 bed/1 bath units; #27 is fully gutted and requires electrical, plumbing, HVAC, sheetrock, flooring, and finish work
(203) 314-4219 Call to check price and availability
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