Renovated Three-Family Investment
For Sale
$374,000
Pending
27 Beacon Street, Waterbury, CT 06704
Renovated three-family property with income potential in Waterbury, CT.
Property Size2,588 SF
Days on Market162
Property Features for 27 Beacon Street
General Information
Standard status
Pending
Size
2,588 SF
Property subtype
Multi-Family / 3 Family
Zoning
RM
Taxes and HOA fees
Annual Taxes
$3,860
Amenities
No
Baseboard
14
Window Unit
Not Applicable
Building Details
Year Built
1888
Listing Agency:
William Pitt Sotheby's Int'l
(323) 314-0888
Listed By:
Melanie Scull · License #RES.0831146
(323) 314-0888
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 8 at 5:40AM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
This renovated three-family property presents an opportunity for investors and owner-occupants. One floor is currently leased at market rate. Renovations on the other two floors were completed in March 2026, and are ready to list. The property offers separate utilities. A bank appraisal of a sister property (next door, same structure) valued it at $490,000 in December 2025. The property has a size of 2588 square feet. This is a rare portfolio opportunity to acquire three buildings totaling nine units in close proximity. Two buildings are stabilized with renovated units, while the third is a value-add triplex ready for renovation, offering significant upside and the potential to increase overall portfolio income. All separate utilities. Ideal for investors looking to scale quickly with a concentrated multifamily portfolio.
Key Highlights
- Renovated 3‑family property featuring two newly renovated units (March 2026) ready for listing.
- Potential for double‑digit ROI and an attractive 8% cap rate.
- Separate utilities for efficient management and strong rental fundamentals.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$583,160
$583.2K
Cap Rate 7%
$416,543
$416.5K
Cap Rate 9%
$323,978
$324.0K
Market Conditions
NOI Build-Up for 2,588 SF
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.
Gross rent
$45.0K $17.40/SF
− Vacancy
−$3.4K −$1.31/SF
EGI
$41.7K $16.10/SF
− OpEx
−$12.5K −$4.83/SF
NOI
$29.2K $11.27/SF
Area
Waterbury, CT
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$583,160
Cap Rate 7%
$416,543
Cap Rate 9%
$323,978
Alternative Uses
Best Use
Multifamily LT 5
$416.5K
$364.5K – $486.0K
NOI $29,158 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$375.2K
$328.3K – $437.8K
NOI $26,267 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$686.8K
$600.9K – $801.3K
NOI $48,075 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated three-family property with income potential in Waterbury, CT.
Where is this triplex located?
The property is located at 27 Beacon Street Waterbury, CT.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Renovated 3‑family property featuring two newly renovated units (March 2026) ready for listing.; Potential for double‑digit ROI and an attractive 8% cap rate.; Separate utilities for efficient management and strong rental fundamentals.
