714 Middle St - Apartments FOR SALE


Bristol, CT 06010- Bristol/Plainville
$915,000 USD
714 Middle St, Bristol, CT for Sale
$915,000 USD
Apartments - FOR SALE
1/1
null | 7.13% Cap Rate

714 Middle St
Bristol, CT 06010
Bristol/Plainville


HIGHLIGHTS

  • ? 6 Residential Units 4/10th of a miles from ESPN Sports Network
  • ? Unit mix of 2 one bedroom, 4 two bedroom
  • Substantial Updates 2022. 5 of 6 units fully renovated; new boiler, hot water, parking, insulation
  • 7.13% Cap Rate going in with upside growth
  • Direct Unit Entry—No Common Hallways
  • Excellent location with rental growth

OVERVIEW

Bristol Landing, a multifamily property consisting of 6 residential units in direct proximity the area’s leading employer ESPN Sports Network. Many Recent Upgrades in 2022. Chozick Realty, Inc. is pleased to present Bristol Landing, a multifamily property consisting of 6 residential units in direct proximity the area’s leading employer ESPN Sports Network. Bristol Landing has been owned with a sense of pride and has had many recent upgrades done in 2022. These upgrades include a full remodeling of 5 of the 6 units fully with new kitchen cabinets, granite countertops and appliances, new bathrooms and flooring. The boiler was replaced with a high efficiency gas boiler along with new hot water heater. To add to the properties energy efficiency all new vinyl windows were installed and the building was fully insulated. In addition all apartments have new electric subpanels.. A property owned laundry was installed in 2023 for resident convenience and the parking lot was replaced all the way down to a new base. The unit mix is attractive for this market with 2 one bedroom, 4 two bedroom apartments With an asking price of $915,000 for this turnkey investment the CAP rate +/-7.13% with an estimated return of 13.49%. With the property’s condition, location and street presence, Bristol Landing is an ideal investment opportunity with a steady occupancy and growing rents

FOR SALE DETAILS

PRICE

$915,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

6

PRICE/UNIT

$152,500

CAP RATE

7.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bristol Landing Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,964 SF

ZONING

IP-1

APN/PARCEL ID

BRIS-000004-000000-000020B

ASK ABOUT THIS PROPERTY

Rick ChozickChozick Realty Inc.More Info

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Rick ChozickChozick Realty Inc.More Info

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