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John-Michael Rachinsky-Wood

jm@harborbridgere.com +1(203) 667-3443

$3,668,000

Est. payment - /mo

7 Beds

3 Baths

2,688 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 2,688 sqft

Price per Sqft $1,364

MLS Listing ID 24185537

Style Units on different Floors,Units are Side-by-Side

Bedrooms 7

Full Baths 3

Year Built 1909

Annual Tax Amount $5,244

Lot Size 6,969 Sqft

Property Sub-Type Other

Property Description

Rare opportunity to acquire a well-maintained 28-unit multifamily portfolio spanning 8 buildings across 4 tax parcels in Watertown, CT. The portfolio includes 15 Pythian Ave, 20 Pythian Ave, 28, 38, 48, 58 and 68 Atwood Court, and 805 Main St. Under single ownership for five years, the current owner has completed significant capital improvements including new roofs, siding, and porches throughout, with the majority of units already renovated. At 96.4% occupancy, long-term tenants have kept rents below market, creating immediate upside as units turn over. Current rents generate $32,665/month across a diversified mix of 1, 2, and 3 bedroom units. At $3,668,000 ($131K/door), the property delivers a 7.54% in-place cap rate on current signed leases. Watertown boasts a median household income of $103,200, well above neighboring Waterbury, supporting strong and consistent rental demand. Quiet, private setting within walking distance to local retail. Simple 4-parcel closing structure. Turnkey value-add with the heavy lifting already done.

Location

State CT

County Litchfield

Zoning BC

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard

Cooling None

Exterior

Waterfront Description Not Applicable

Roof Type Asphalt Shingle

Building

Lot Description City Views, Level Lot

Foundation Concrete

Sewer Public Sewer Connected

Water Public Water Connected

Schools

Elementary Schools Fletcher W. Judson

Middle Schools Swift

High Schools Watertown

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Listed by Levi Judqin • Brass Moon Realty

NEARBY SCHOOL & BUSINESS

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John-Michael Rachinsky-Wood

+1(203) 667-3443

Broker | License ID: REB.0792632

Broker License ID: REB.0792632

805 Main Street Watertown, CT 06779

John-Michael Rachinsky-Wood

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION