Turn-Key Multifamily Portfolio
701 South Main Street, Waterbury, CT 06706
- Added:
- Apr 1, 2026
- Days on Market:
- 63
- Last Refresh:
- Apr 1 at 8:07 pm
Property Features for 701 South Main Street
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agent AMANDA FARONI-SHEEHAN License #REB.0793328
Listing office Oxford Realty (203) 314-4219
Listing date Apr 1, 2026
Source Corcoran
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
HighLights
- Strong in‑place cash flow with an impressive 8.5% CAP actual.
- Turn‑key portfolio opportunity with 25 units (23 residential, 2 commercial) across six buildings.
- Five of six buildings have completed de‑leading and extensive renovations including siding, windows, interiors, electrical, porches, and roofs.
- Tenant‑paid utilities in five of the six buildings (electric heat, hot water, cooking).
- Low vacancy and strong tenant base.
- Ample off‑street parking (over 20 spaces) and a convenient location near I‑84 and Route 8.
Overview
This turn-key portfolio in Waterbury's South End presents a multifamily investment opportunity with an 8.5% CAP rate. The sale encompasses three adjacent parcels, featuring six buildings with a total of 25 units: 23 residential apartments and two commercial spaces. The residential mix includes six four-bedroom units, eleven three-bedroom units, and six two-bedroom units. Five of the six buildings have separate, tenant-paid utilities, including electric heat, hot water, and cooking. The building at 701 South Main Street contains six apartments with owner-paid gas heat, while electric and hot water are tenant-paid. Five of the six buildings have completed the City of Waterbury de-leading program and have been extensively renovated. Renovations include new vinyl siding, replacement windows, updated interiors, upgraded electrical systems, rebuilt porches, and newer roofs installed in 2017. Many apartments feature hardwood flooring, expansive layouts, and updated kitchens and baths. The portfolio has historically low vacancy and a strong tenant base. A common coin-operated laundry room is located in Building 691 and is available to all tenants. The two commercial units have separate utilities and require full renovation, presenting a value-add opportunity. The properties offer ample off-street parking, with over 20 combined parking spaces. The location provides convenient access to I-84 and Route 8. Many rents are below market, providing significant upside potential.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Waterbury
- County
- New Haven
- State
- Connecticut
- Longitude
- -73.0375864
- Latitude
- 41.5463836
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 25-unit portfolio with strong cash flow and upside potential.
Where is this apartment building located?
The property is located at 701 South Main Street Waterbury, CT.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Strong in‑place cash flow with an impressive 8.5% CAP actual.; Turn‑key portfolio opportunity with 25 units (23 residential, 2 commercial) across six buildings.; Five of six buildings have completed de‑leading and extensive renovations including siding, windows, interiors, electrical, porches, and roofs.
