All reasonable offers will be considered

• Multi-family, 6-unit apartment house
• Fully rented
• 5 of the 6 units recently renovated
• 3 units ground floor, 3 units upstairs
• 5 studios plus 1 2-bedroom unit
• Net Operating Income $50,000
• Tenants pay all utilities

Zoned single family

City planner recommends seeking a zone change to “RO”

The city of Waterbury is seeking upscale developements which will increase their grand list

Land owner may consider contributing land to a JV

Sale Price: $850,000.00

The property includes two apartment buildings, 1160 and 1180 Stratford Avenue, with 14 and 13 rental units respectively. Constructed in 1933, the buildings are two story with stucco exteriors, composition roof and Spanish tile trim. Each unit is submetered for electricity and gas. Of the 27 units, 11 are one bedroom and 16 are large efficiencies. The occupancy rate as of September 2007 is 93%.

The Offering

Both buildings are offered for sale at a price of $1,695,000. This price equates to just over $62,000 per unit as well as a capitalization rate of 8.7% on the in-place rent roll and a market capitalization rate of 10.21%.

Project Amenities

Well located with excellent access to Interstate 95, Metro-North Railroad as well as the Stratford Avenue bus.

The exteriors and common areas of the buildings have been substantially upgraded in the last two years. The roof was replaced in 2000.

Facilities include new oil fired water heaters and oil tanks.

Majority of apartments have been upgraded with new windows, refurbished interiors, ceiling fans and new appliances.

1160 includes private paved parking for 11 spaces.

Large basement, not currently utilized,

suitable for storage and laundry use.

Unit Descriptions

Unit finishes include hardwood flooring, plaster ceiling and walls, double hung windows and original ceramic baths. Each unit is sub-metered for gas and electricity. Heating is via baseboard electrical units or individual, window mounted, gas units. Kitchens include old style cabinets with unit appliances including refrigerators and stoves that vary by unit and age. A majority of these units have been upgraded as necessary with new windows, ceiling fans and new appliances.

Market Information

Located in Fairfield County, Stratford’s location on the Long Island Sound and its proximity and access to major employer centers in Bridgeport and Fairfield has historically centered the town as a favored residential community. More recently, Stratford has become a desirable location due to its 15 minute commute to Shelton and Trumbull. Each town has emerged as a corporate location for many of Fairfield County’s Fortune 500 companies, with over 2 million square feet of office space that attracts thousands of workers daily. Stratford currently includes a population of approximately 50,000 with a median household income of $70,000.

For more information regarding this offering and full Rent Roll sheet please contact Jack M. Lynch, CCIM, at 203-556-9481.

1. Boston Post Road Assemblage, Milford, CT;

• 449-459 Boston Post Road, Milford, CT
• Lot 5 Boston Post Road, Milford, CT (adjacent to 449-450 Boston Post Rd)
• 435-437 Boston Post Road, Milford, CT
• 2 Ford Street, Milford, CT6
• 17 Ford Street, Milford, CT

1. 901 Bridgeport Avenue, Milford, CT
2. 34 Canal Street, Shelton, CT
3. 2145 North Avenue, Bridgeport, CT

Features

• 150,000 SF Light Industrial Facility
• 1st Floor – 100,000 SF
• 2nd Floor – 50,000 SF
• Office Space/s – 800 SF & 1,600 SF
• Additional 12,000 SF Storage Tunnel offered
• Taxes – $41,612 annually
• Freight Elevator – 8’H x 13’W x 12.5’D – 16,000LB
• Boiler – 1950’s vintage, 16Million BTU
• Docks – 6; 3 on Wharf Street Parking Side & 3 on Canal Street
• Overhead Doors – 2 (8’ x 8’ & 10’ x 14’) located on Wharf Street Parking Side
• Sprinkler System – water supply fed off of adjacent building (Inline Plastics on Hill Street side of bldg)
• Ceiling Height – 14’+ clear 1st floor & 20’+ clear 2nd floor
• 400 AMP Service to building
• 3 Stairwells to 2nd floor
• Fire Doors – 2 (8’ x 8’ 1st floor & 10’ x 10’ 2nd floor)
• Gas – Meter located exterior of building on Canal Street near loading dock
• Water – Meter located in interior of building near Wharf Street parking lot entrance
• Electric – Meter located in interior of building on Wharf Street side near entrance to tunnel

Parcel A – 762 River Road, Route 110: 12,000 SF Retail building with drive thru. Pharmacy, bank, medical retail. Can be retrofitted for single user or subdivided into multiple units. Pricing: $30-$40 psf NNN

Parcel B – 762 River Road, Route 110: 60,000 SF Class A Medical Office building. On direct waterfront. 12,000 SF flexible floorplates with generous parking (4 per 1,000 SF). Pricing: $25-$35 psf NNN

Parcel C – 781 River Road, Route 110: 5,000 SF Retail building with drive thru. Bank or mixed retail. Pricing: $25-$35 psf NNN

Sites for Lease A, B & C are adjacent to the Sports Center of Connecticut…

Sports Center of Connecticut – 784 River Road (Route 110) Shelton, CT 06484

1.6 million patrons last year, average income $85,000

Sports Center of Connecticut is a one-of-a-kind, year-round family sports and entertainment complex

15 acre site consists of; weather-protected Golf Driving Range, 18-hole Hole Mini-Golf course, jungle-themed Lazer Tag arena, Fun Bowl, Bowling, Game Zone arcade, Baseball/Softball Batting Cages, and the, world’s only double-decker Ice-Skating Arena.

6.76 acre property assemblage includes;

• 54 GroversAvenue -2.59 acres
• 84R GroversAvenue -.66 acres
• 98 GroversAvenue -1.09 acres
• 98A GroversAvenue -.85 acres
• 88 GroversAvenue -1.57 acres

Highlights

• Property has direct waterfront access with a 308’ dock on Long Island Sound –an irreplaceable grandfathered asset.
• Waterfront footageon Long Island Sound is 438’.
• On the manicured estate grounds there is a sizeable and picturesque pond with a footbridge.
• Superior waterfront development possibilities -several condominium complexes are in the neighborhood.
• Directly adjacent to the Black Rock Yacht Club.

Estate Landscape
The 6+acre estate built in 1907 has stunning grounds, including a large pond with a footbridge, an ingroundpool, 950SF of outdoor patio/porch space and a direct dock -all set facing due South with the open expanse and stunning views of 438+/-feet of direct waterfront on the Long Island Sound. Length of grandfathered boating dock is 308 feet.

Main Residence