$1,975,000
$2,225,000
11.2%For more information regarding the value of a property, please contact us for a free consultation.
3 Baths
17,264 SqFt
SOLD DATE : 08/02/2024
Key Details
Sold Price $1,975,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 17,264 sqft
Price per Sqft $114
MLS Listing ID 24013249
Sold Date 08/02/24
Full Baths 3
Year Built 1938
Annual Tax Amount $40,678
Lot Size 0.400 Acres
Property Description
LOCATION & CASH FLOW in this completely renovated opportunity in a prime downtown location with a bonus for tremendous value add opportunities. This sale consists of 317 & 325 East Main St which includes a 21 Unit brick building and an adjoining mixed-use property with a long standing Mini Mart + 3 approved apartments. The two properties share a large parking area in back with room for approx. 25 cars and detached three-car garage in back. Units are a mix of studios & 1 beds - 100% occupied w/historically low vacancy. Too many features to list including tons of energy efficient updates with a new steam boiler & new heat pump hot water heater. New electrical service, hardwired fire alarm & all LED/sensor lighting throughout. RING security in place, lead certified, fire rated doors, master key & new windows. Units are renovated w/new kitchens, baths, flooring, fixtures, low flow toilets, etc. #317 is occupied by a stable, long term mini mart w/kitchen + 3 approved studio units to be built. Amazing location: Walking Distance to Saint Mary's Hospital and the Waterbury Green + Easy Highway Access & one block to the Police Dept. The buildings give a new owner the opportunity to acquire an income-producing asset with the ability to raise rents with unit turnovers ++ the potential to finish three additional units for even more income.
Location
State CT
County New Haven
Zoning CBD
Interior
Interior Features Window Display
Heating Steam
Cooling Window Unit
Exterior
Exterior Feature Sidewalk, Roof Sign, Gutters, Lighting, Outside Storage Area
Garage Unpaved, Off Street Parking, Unassigned Parking
Utilities Available Electric, Gas, Cable Available
Roof Type Asphalt Shingle,Flat
Building
Lot Description Level Lot
Story 4
Foundation Brick, Stone
Sewer Public Sewer Connected
Water Public Water Connected
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Bought with Amanda Faroni-Sheehan • Oxford Realty
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Broker | REB.0791464