68 Willow St Waterbury, CT 06710-2010

This exceptional mixed-use property, located at 68 Willow St in Waterbury, Connecticut, presents a compelling investment opportunity. The three-story, 6,093 square foot building, constructed in 1890 and renovated in 2020, boasts nine units: six two-bedroom, one-bathroom apartments, one studio apartment, and two retail spaces. Currently operating at 90% occupancy, the property generates a strong net operating income (NOI) of $75,641, yielding an 11.64% capitalization rate. Pro forma projections indicate a potential NOI of $79,388 and a 12.22% cap rate, suggesting significant upside potential. The building sits on a 0.16-acre corner lot, offering excellent visibility. Utilities are separately metered and paid by tenants, minimizing landlord responsibilities. On-street parking is available, further reducing maintenance costs. The property is zoned RO and offers the potential for rent increases. The asking price is $649,900, translating to $72,211.11 per unit and $106.66 per square foot. This stabilized value-add investment is ideal for those seeking strong cash flow and potential for appreciation. The property is also available as part of a larger portfolio.