21 Middle Street, HopevilleWaterbury, CT 06706Sale Price: $245,000

Great four-unit property with over 4,600 sf to start or add to your portfolio or potentially purchase as an owner-occupier for down the road. Either way, there are currently 4 units with potential to yield even greater incomes. Current rents are below market due to tenants being mostly long term. While being offered at about an 8.5% CAP rate, there is potential to easily get to 12%+ with market rents and/or by adding garage space to the rent roll (2 garages are currently utilized by the owner). The property features 4 units; three of which include 5 rooms total, two bedrooms (or 3 if living room is used as a bed room) and a bath, and the lower-level unit which includes a large living/dining room, bedroom, bath, and a bonus room which could potentially be utilized as an additional bedroom. Separate utilities are tenant paid and some units have their own laundry hook-ups. Units 1-3 have gas boilers and gas water heaters, while the lower level unit is electric. Large fenced in area which would be great for containing any pets or even a garden area, huge parking lot which could easily fit 8 cars and up to 12, and an additional 4 car detached garage are other features that make this property very unique. The roof is about 7 years old and mechanicals are in working order. As far as location goes - this property is on a side street with mostly single family homes but still close to the highways, bus lines, shopping, schools, and anything else a tenant or owner-occupier may need.