Updated Three-Unit Multifamily
For Sale
$450,000
256 , Waterbury, CT 06710
Three-unit property with updated electrical service, fresh exterior paint, and a vacant second-floor apartment.
Property Size4,016 SF
Price / SF$112.05
Days on Market69
Property Features for 256
General Information
Standard status
Active
Size
4,016 SF
Property subtype
3 Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1904
Buildings
1
Stories
3
Tenancy
Multi
Abandoned
No
Listing Agency:
Century 21 Scala Group
(203) 374-9451
Listed By:
Thomas Payne · License #RES.0824672
(203) 233-7445
Source:
Lockandkeyre
Added: Jul 30
Changed: Oct 4
Last Checked: Oct 5 at 7:05PM
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 Century 21 Scala Group
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1904 and includes two matching 1,400-square-foot, three-bedroom apartments plus a 1,200-square-foot, one-bedroom apartment. The first-floor residence is occupied under a month-to-month lease, while the second-floor unit is vacant and available for showings. The building’s electrical service has been recently updated, and the siding has been freshly painted.
The property is located on Hillside Avenue in Waterbury, Connecticut, with access to I-84 and Route 8 described as minutes away. Individual tenants are responsible for their own utilities. The unit mix provides two larger three-bedroom layouts and one spacious one-bedroom apartment within the same building.
The property is located on Hillside Avenue in Waterbury, Connecticut, with access to I-84 and Route 8 described as minutes away. Individual tenants are responsible for their own utilities. The unit mix provides two larger three-bedroom layouts and one spacious one-bedroom apartment within the same building.
Key Highlights
- Three‑unit multifamily property built in 1904
- Two 1,400‑square‑foot, three‑bedroom apartments
- 1,200‑square‑foot, one‑bedroom third‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,760
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,200
$815.2K
Cap Rate 7%
$582,286
$582.3K
Cap Rate 9%
$452,889
$452.9K
Market Conditions
NOI Build-Up for 4,016 SF
Gross rent
$79.5K $19.80/SF
− Vacancy
−$5.4K −$1.35/SF
EGI
$74.1K $18.45/SF
− OpEx
−$33.3K −$8.30/SF
NOI
$40.8K $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%
$815,200
Cap Rate 7%
$582,286
Cap Rate 9%
$452,889
Alternative Uses
Best Use
Multifamily LT 5
$646.4K
$565.6K – $754.1K
NOI $45,246 @ 7.0% cap · market cap 10.05%
Second Best
Apartment 5plus
$582.3K
$509.5K – $679.3K
NOI $40,760 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$1.07M
$932.5K – $1.24M
NOI $74,601 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 06710, CT
11,056
Population
4,515
Households
2.4
Avg Household Size
32
Median Age
15%
College-Educated
71%
High-School Grad
1.0 sq mi
ZIP Area
11,056
Density / Sq Mi
$42,774
Median Household Income
$33,880
Median Earnings
$1,135
Median Rent
$219,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with updated electrical service, fresh exterior paint, and a vacant second-floor apartment.
Where is this triplex located?
The property is located at 256 Waterbury, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1904; Two 1,400‑square‑foot, three‑bedroom apartments; 1,200‑square‑foot, one‑bedroom third‑floor apartment
