63 Derby Ave - Multi-Family FOR SALE


Derby, CT 06418
$1,200,000 USD
203-980-6412
63 Derby Ave, Derby, CT for Sale
$1,200,000 USD
Multi-Family - FOR SALE
1/18
null | 6.18% Cap Rate

63 Derby Ave
Derby, CT 06418


HIGHLIGHTS

  • Diversified income stream: Mixed-use asset with 6 apartments + 3 storefronts (two deli bays + one office) spreads risk across nine rent sources.
  • Clear rent growth levers: Path to market via modest increases on the 1BRs and select 2BRs, plus converting month-to-month commercial to term leases.
  • Tenant-paid utilities: Residents and commercial tenants cover their own utilities (mix of electric baseboard and gas heat), keeping owner OpEx low.
  • Flexible business plan: Options to re-tenant, reconfigure commercial lease terms, and standardize finishes to push rents and NOI.
  • Activated street level: Existing deli use and office tenancy provide steady occupancy and everyday neighborhood traffic.

OVERVIEW

Mixed-use investment property with 6 residential units and 3 commercial spaces, producing immediate cash flow. Residential mix includes (4) 2BR/1BA and (2) 1BR/1BA units, plus 2 deli spaces and an office. Tenants pay their own utilities. Offered with upside through rental adjustments and lease restructuring. Investment Highlights: Immediate in-place income from diversified tenant base Strong mix of residential and commercial rentals Upside through targeted rent increases and lease restructuring Centrally located in Derby with steady demand and visibility Utilities & Systems All tenants pay their own utilities Combination of electric baseboard and gas heat Residential Units: 6 Total (4) 2-Bed / 1-Bath: $1,850 | $1,200 | $1,750 | $1,600 (2) 1-Bed / 1-Bath: $950 | $700 Commercial Units: 3 Total (2) Units leased to a single deli tenant: $1,000/month (M-M) (1) Office Unit: $650/month (M-M) Proforma Financial Snapshot: Residential Income (Proforma): (4) 2-Bed / 1-Bath @ $1,750 = $7,000/month | $84,000/year (2) 1-Bed / 1-Bath @ $1,450 = $2,900/month | $34,800/year Total Residential (Proforma): $9,900/month | $118,800/year Commercial Income (Proforma): (3) Storefronts @ $850 each = $2,550/month | $30,600/year Total Proforma Gross Income: Monthly: $12,450 Annual: $149,400

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$197 USD /SF

# OF UNITS

9

PRICE/UNIT

$133,333

CAP RATE

6.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

P

APN/PARCEL ID

DERB-000003-000002-000034-000077

ASK ABOUT THIS PROPERTY

Justin SudolAlpha Capital RealtyMore Info
203-980-6412

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Justin SudolAlpha Capital RealtyMore Info
203-980-6412

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.