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$ 2,700,000
Est. payment /mo
New
7 and 451 Upson and Divinity Street Bristol, CT 06010
20 Beds
20 Baths
11,531 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family+
Listing Status Active
Purchase Type For Sale
Square Footage 11,531 sqft
Price per Sqft $234
MLS Listing ID 24103386
Style Other
Bedrooms 20
Full Baths 20
Year Built 1900
Annual Tax Amount $23,315
Lot Size 0.800 Acres
Property Sub-Type 5 Family+
Property Description
Prime opportunity to acquire a well-located, stabilized 20-unit multifamily portfolio in Bristol, Connecticut. This offering provides immediate in-place cash flow with strong upside through light value-add improvements. Totaling 20 units across two properties and three physical buildings, the portfolio includes 5-7 Upson Street-a 10-unit complex made up of two side-by-side buildings on a single parcel-and 451 Divinity Street, a 10-unit brick apartment building. The properties are offered at a 7.0% cap rate, with a pro forma cap rate of 8.4%, supported by achievable rent increases and improved operational efficiency. Current average rents of $1,170 are below market, with a pro forma rent of $1,353, representing 15.6% of upside rent potential. 5 Upson is a 2-story brick construction with (8) 1-bedroom units, each with three rooms and a full bath with tub. Electric baseboard heating and individual electric hot water heaters. All utilities are tenant-paid. 7 Upson is a 3-story wood-frame building with vinyl siding with (2) units: (1) 2-bedroom on the first floor and one (1) 3-bedroom unit spanning the second and third floors. Each unit has gas boiler heating and individual gas hot water heaters. Off-street parking and common coin-operated laundry. 451 Divinity Street is 2-story brick apartment building, built in 1965, sits nestled in a 0.55-acre interior lot and includes (10) 1-bedroom units with Off-street parking.
Location
State CT
County Hartford
Zoning A / R-15
Rooms
Basement None
Interior
Heating Baseboard
Cooling None
Exterior
Parking Features None, Off Street Parking
Waterfront Description Not Applicable
Roof Type Asphalt Shingle,Flat
Building
Lot Description Corner Lot, Level Lot
Foundation Concrete, Slab
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
Middle Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Sandy Strickling • Sky Realty Group