495 Scott Rd Waterbury, CT 06705
- Residential income homes
- 11,204 SF
Current Use by Public Records
- Residential income homes
Property Details for 495 Scott Rd
- Year built
- 1986
- Property size
- 11,204 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents an eight-unit single-family rental portfolio located at 495 Scott Road, Waterbury, Connecticut, 06705. The property boasts a total of 11,204 square feet, with each unit commanding a price of $156,875. Built in 1986, this portfolio offers a current cap rate of 6.34%, projected to increase to 13.56% through value-add strategies. Currently enjoying 100% occupancy, the property features two-bedroom condos, each with an attached garage. Situated in a high-income area of Waterbury, just ten minutes from the downtown area, this portfolio presents a significant value-add opportunity due to below-market rents. Landlord responsibilities are minimized as the condo association handles the majority of property maintenance. The property is zoned residential and offers a significant opportunity for a new owner to become the largest owner within this well-maintained condo complex. The asking price for this portfolio is $1,255,000, translating to $112.01 per square foot.
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
- -72.9825
- Latitude
- 41.5339
