46 Wyman St Waterbury, CT 06710
- Commercial real estate
- 4,029 SF
- 0.21 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 46 Wyman St
- Year built
- 1904
- Lot size
- 0.21 lot acres
- Property size
- 4,029 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a meticulously renovated three-family apartment building situated on a 0.21-acre lot in Waterbury, Connecticut's Waterville neighborhood. The property, built in 1904 and extensively renovated in 2021, boasts a total of 4,029 square feet and features three spacious three-bedroom, one-bathroom apartments, each approximately 1,340 square feet. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $26,680, with a current cap rate of 7.31%. A pro-forma analysis projects a significantly higher NOI of $38,051 and a compelling 10.42% cap rate, indicating significant upside potential. Each unit benefits from separate utilities (gas heat, hot water, and cooking) and updated electric circuits, all paid by tenants. Adding to the property's appeal is a detached three-car garage, offering additional rental income or valuable storage space, along with ample off-street parking. The property is zoned RM and presents a low-maintenance, high-return investment opportunity. This turnkey property is priced at $365,000.
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
- -73.0504837
- Latitude
- 41.5644152
