Updated Multifamily
New
For Sale
$475,000
48 Irion, Waterbury, CT 06704
Apartments feature two-bedroom layouts, renovated kitchens and bathrooms, and tenant-paid utilities.
Property Size2,466 SF
Price / SF$192.62
Days on Market4
Property Features for 48 Irion
General Information
Standard status
Active
Size
2,466 SF
Property subtype
3 Family
Site & Location
Neighborhood
North End
Building Details
Year Built
1917
Listing Agency:
Oxford Realty
(203) 314-4219
Listed By:
Amanda Faroni-Sheehan · License #REB.0793328
(413) 333-7776
Source:
Lockandkeyre
Added: Oct 25
Changed: Oct 26
Last Checked: Oct 26 at 12:46PM
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
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Investment Insights
Based on property information with market context.
Built in 1917, this multifamily property in Waterbury contains apartments with two bedrooms and one bathroom. Interior improvements include updated flooring and lighting, along with renovated kitchens and bathrooms. Each unit has an eat-in kitchen and living and dining areas.
Utilities are paid by tenants, and off-street parking is located behind the building. The property is zoned RM.
Utilities are paid by tenants, and off-street parking is located behind the building. The property is zoned RM.
Key Highlights
- Apartments have two bedrooms and one bathroom each
- Renovated kitchens and bathrooms, with updated flooring and lighting
- Eat‑in kitchen plus living and dining areas in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,029
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,580
$500.6K
Cap Rate 7%
$357,557
$357.6K
Cap Rate 9%
$278,100
$278.1K
Market Conditions
NOI Build-Up for 2,466 SF
Gross rent
$48.8K $19.80/SF
− Vacancy
−$3.3K −$1.35/SF
EGI
$45.5K $18.45/SF
− OpEx
−$20.5K −$8.30/SF
NOI
$25.0K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,580
Cap Rate 7%
$357,557
Cap Rate 9%
$278,100
Alternative Uses
Best Use
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,029 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$654.4K
$572.6K – $763.5K
NOI $45,808 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Apartments feature two-bedroom layouts, renovated kitchens and bathrooms, and tenant-paid utilities.
Where is this multifamily property located?
The property is located at 48 Irion Waterbury, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Apartments have two bedrooms and one bathroom each; Renovated kitchens and bathrooms, with updated flooring and lighting; Eat‑in kitchen plus living and dining areas in each unit
