515 Scott Rd Waterbury, CT 06705
- Residential income homes
- 22,678 SF
Current Use by Public Records
- Residential income homes
Property Details for 515 Scott Rd
- Property size
- 22,678 SF
- Property type
- Residential income homes
Description
This exceptional value-add investment presents a portfolio of twenty-one single-family rental units spread across six buildings totaling 22,678 square feet. Located in desirable areas of Waterbury, Connecticut, this property offers a compelling opportunity for significant returns. The asking price is $2,950,000, translating to $140,476 per unit and $130.08 per square foot. The current cap rate stands at 7.66%, with a pro-forma cap rate projected at 13.29%, indicating substantial potential for increased profitability. The portfolio comprises two distinct condo complexes: one at 975 Meriden Road with thirteen units, and another at 495-519 Scott Road featuring eight units. These well-maintained complexes benefit from condo associations, providing a degree of hands-off management. The properties are situated in high-income areas of Waterbury, CT, offering a stable rental market and strong potential for future appreciation. This portfolio is being offered for sale as a whole, presenting a unique chance to become a major owner within these established communities. The address for one complex is 515 Scott Road, Waterbury, CT 06705.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterbury
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.9821
- Latitude
- 41.5339
