The property consists of 2 buildings: Apartments & a Commercial Building. The apartments consist of a studio, a 2 bedroom and two 3-bedroom apts. The commercial building consists of two commercial tenants, Check-Cashing & Liberty Tax. The property also has a billboard on premise.
Floor coverings consist of wood, ceramic tile, vinyl & carpet.
Kitchens contain wall and base cabinets, refrigerator, gas stove, and basin sink.
Off-street parking is included with this property.
PROPERTY LOCATION AND DESCRIPTION
The property is located approximately .5 miles from RT-8 and .5 mile from I-84 along East Main St.
The area consists of single family homes, as well as condominiums and commercial strip plazas, Shaw’s Supermarket. Close proximity to downtown, Brass Mills Mall, St. Mary’s Hospital and
PROPERTY DESCRIPTION SUMMARY
Sale Price: $425,000.00
Property Address: 351 East Main St. Waterbury, CT. 06705
Number of Stories: 1 2
Year Built: 1928 1928
Construction Exterior: Brick/Stucco Aluminum Siding
Foundation: Concrete Stone
Roof: Rubber (2Yrs.) Asphalt Shingles (13Yrs.)
Windows: Commercial Grade Double-Hung Pane
Gutters: Aluminum Aluminum
Floor Covering: Wood /Carpet Wood/Vinyl/Tile/Carpet
Walls: Sheet Rock Sheet Rock
Ceilings: Sheet Rock Sheet Rock
Interior Doors: Wood/Glass Wood
Utilities Available: Water/Sewer/Electric/Gas Water/Sewer/Electric/Gas
Fuel: Gas/Electric Gas/Electric
Heat Paid By: Tenants * see below
Distribution: Radiant/Hot Air Radiant/Hot Air
Hot Water: Hot Water Tanks Hot Water Tanks
Hot Water Paid By: Tenants * see below
Air Conditioning: CAIR Individual – Window
* – 3 Tenants pay their own HEAT & HOT WATER
* – Studio – Owner pays HEAT & HOT WATER (Owner’s Meter)
DETAILS COMMERCIAL APARTMENTS
Cabinets: Wooden n/a
Counter Tops: Laminate n/a
Appliances: Gas Stove, Refrigerator n/a
Full Bath: Combination Tub/Shower Vanity/Toilet Vanity/Toilet
Type of Parking: Off-street Off-street
Topography: Level Level
Shape: Rectangle Rectangle
Sewer: Municipal Municipal
Water: Municipal Municipal
Electric: 200A/240V/Single 400A/240V/Single
1-$650 Studio – 9/2017
2-$650 2BR. – 12/2018
3-$825 3BR. – 3/2019
4-$926 3BR. – 3/2015 Sect. 8
Tax Service – $800 – (3 Yr. + 3 Yr. opt. w/2% annl.incr.) – 2001
Check Cash – $1,200 – (3 Yr. + 3 Yr. opt. w/2% annl.incr.) – 2001
Outdoor Media $2,000/Yr. * – (10 Yr.Lease Fixed 12/31/15-12/31/25)
* – Commission is also paid to LL if sales exceed a certain amount.
Past amounts ranged from $00 – $3,000/Yr.
Total Income $62,612.00
Owner’s Electric $3,602.00
Sewer & Water 1,257.00
Real Estate Tax 8,995.00
TOTAL EXPENSES $21,544.00
NET OPERATING INCOME $41,068.00
CAP RATE 9.6%
Updated on June 28, 2021 at 11:13 am