444-445 West St - Apartments FOR SALE


Bristol, CT 06010- Bristol/Plainville
$825,000 USD
203-692-2420
444-445 West St, Bristol, CT for Sale
$825,000 USD
Apartments - FOR SALE
1/9
null | 9.58% Cap Rate

444-445 West St
Bristol, CT 06010
Bristol/Plainville


HIGHLIGHTS

  • Seven (7) Apartments | Two (2) Contiguous Buildings
  • Diverse Unit Mix
  • Value-Add Opportunity
  • Attractive Entry Cap Rate
  • Below Market Rents
  • Attractive Location

OVERVIEW

Northeast Private Client Group is pleased to exclusively present the opportunity to acquire West Street Apartments, a 7-unit multifamily property located at 444-454 West Street in Bristol, Connecticut. This value-add investment is priced at $825,000, offering immediate income with upside potential through rent growth and operational enhancements. Built in 1913 and comprising 6,940 square feet across two buildings, the property features a mix of spacious units with a classic New England architectural aesthetic. The offering presents an in-place cap rate of 9.53% with a pro forma cap rate of 11.77%, underpinned by average current rents of $1,384, which remain below the market average of $1,471, signaling a clear path to increased cash flow through modest rent adjustments. Situated on 0.3 acres in a desirable residential corridor of Bristol, the property benefits from strong tenant demand, proximity to major employers, and convenient access to nearby retail, schools, and public transportation. All units are individually metered for electricity, and tenants are responsible for electricity, cooking, and portions of heat and hot water, minimizing ownership expenses. West Street Apartments offers investors a stable, well-maintained asset with both income security and value appreciation potential in the growing Central Connecticut market.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

7

PRICE/UNIT

$117,857

CAP RATE

9.58%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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