The Matthews TeamWilliam Raveis

The Matthews Team

45 Cherry Street, DowntownWaterbury, CT 06702MLS Number 170497880

  • Price: $429,900
  • 18 Days on Market
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Federal 30-year interest rate: 5.81% last updated on Jun 23, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $429,900List Price
  • 0.08Acreage
  • 5,042Square Feet
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22.5% ROI in this mixed-use corner property - CASH FLOW. The sale features a two-family multifamily, a two-unit, single story brick retail building ++ a vacant adjacent lot. 45 & 53 Cherry St. The two-family has great unit mix and consists of a 2 bed/1 bath unit and 3 bed/1 bath unit - 100% occupied. The retail building has a corner store and restaurant - both doing a great business and stable commercial tenants. The lot is currently used for outdoor restaurant seating and tenant/customer parking. The property features a new roof (2020 - $28k expense), vinyl siding, brick commercial exterior and mostly replacement windows. The interior apartments have some updates including flooring and kitchens/baths - big apartments. Retail has it's own electric + apartments have shared electric (owner paid). The owner pays heat for apartments only. 1 Central HW tank for all 4 units (owner paid). The corner store has been here for 17 years and they have a 5-year lease expiring in 2024. New 5-year lease with the restaurant which expires in 2027. If you're looking for CASH FLOW, this is IT!

Property Details of 45 Cherry Street, Downtown

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Listed by Amanda R Faroni of Vanguard Private Client Grp

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