54 High St Waterbury, CT 06704-4007

Property Details for 54 High St

Year built

1885

Lot size

0.07 lot acres

Property size

3,684 SF

Zone code

RM

Property type

Investment properties

Property subtype

Live-work space

APN

WBRY M:0276 B:0597 L:0100

APU

WBRYM0276B0597L0100

Description

This exceptional mixed-use investment opportunity in Waterbury, Connecticut, presents a compelling blend of immediate cash flow and significant upside potential. Located at 54 High St, 06704, this property comprises two buildings on a 0.1-acre lot, totaling 4,428 square feet. The main building, a three-story structure, features a ground-floor commercial space with a five-year lease and three renovated two-bedroom, one-bathroom apartments above. A separate single-family residence with two bedrooms, an eat-in kitchen, and a large open floor plan is also included, boasting a semi-finished basement with laundry hookups. The entire property underwent a complete renovation in 2023, encompassing new roofing, siding, windows, electrical systems, plumbing, and comprehensive unit renovations including sheetrock, ceilings, flooring, kitchens, and bathrooms. The property currently boasts a 75% occupancy rate, generating a net operating income (NOI) of $62,863, representing an 8.98% capitalization rate. Pro forma projections indicate a 10.22% cap rate and a NOI of $71,533 with full occupancy. Five parking spaces are available. All utilities are separately metered and paid by tenants. The property is zoned RM and offers a compelling opportunity for an owner-user or investor seeking a stabilized, high-cash-flow asset in a desirable location. The asking price is $699,900, translating to $158.06 per square foot and $139,980 per unit. This turnkey property is ready for immediate income generation.

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Longitude

-73.0319

Latitude

41.5571

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments