35 Mountain Village Rd Waterbury, CT 06706
- Residential income homes
- 14,123 SF
Current Use by Public Records
- Residential income homes
Property Details for 35 Mountain Village Rd
- Property size
- 14,123 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of sixteen income-producing condos located in Waterbury, Connecticut, at 35 Mountain Village Rd, 06706. The portfolio boasts a total of 14,123 square feet, with each unit averaging $129,688. Currently operating at 88% occupancy, the property generates a strong net operating income (NOI) of $171,453, translating to an 8.26% cap rate and a pro-forma cap rate of 10.78%. The asking price is $2,075,000, representing a price per square foot of $146.92. This value-add opportunity features below-market rents, presenting significant upside potential for increased profitability. The condos are situated within well-maintained complexes, offering a low-maintenance investment. Exterior property management is handled by the Homeowners Associations, minimizing operational burdens. An in-place management team effectively handles tenant relations. The units themselves are a mix of one and two-bedroom condos, many featuring updated interiors, attached garages, and in-unit laundry. Their convenient locations offer proximity to numerous amenities. The durable construction of the buildings ensures long-term stability and value. This portfolio is an ideal investment for those seeking a hands-off approach to real estate ownership with substantial growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterbury
- County
- New Haven
- State
- Connecticut
- Longitude
- -73.0183
- Latitude
- 41.5388
