20 Units in Bristol - Upson and Divinity Multi-Family FOR SALE


Bristol, CT - Bristol/Plainville
$2,700,000 USD
860-638-9748
, Bristol, CT for Sale
$2,700,000 USD
Multi-Family - FOR SALE
1/19
null | 7% Cap Rate

20 Units in Bristol - Upson and Divinity
Bristol, CT
Bristol/Plainville


HIGHLIGHTS

  • 20 unit portfolio with diversified unit mix (1BR, 2BR, 3BR)
  • Proven upside through light renovations and lease turnovers
  • Central location with access to regional employers and amenities
  • Value add opportunity with some CAPEX completed

OVERVIEW

Sky Realty Group is pleased to present a 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 on a 0.55-acre quiet, interior lot and includes (10) 1-bedroom units with Off-street parking.

ASK ABOUT THIS PROPERTY

Sandy StricklingSky Realty GroupMore Info
860-638-9748

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Sandy StricklingSky Realty GroupMore Info
860-638-9748

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