CT > Bristol
Bristol, CT 06010,7 and 451 Upson and Divinity Street
Bristol, CT 06010,7 and 451 Upson and Divinity Street
Bristol, CT 06010,7 and 451 Upson and Divinity Street
Bristol, CT 06010,7 and 451 Upson and Divinity Street
Bristol, CT 06010,7 and 451 Upson and Divinity Street
Bristol, CT 06010,7 and 451 Upson and Divinity Street
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Akiba Watts

Akiba Watts

+1(475) 256-8828
$ 2,700,000
Est. payment | /mo

20 Beds

20 Baths

11,531 SqFt

Save
$ 2,700,000
Est. payment | /mo
Save

20 Beds

20 Baths

11,531 SqFt

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
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+1(475) 256-8828

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7 and 451 Upson and Divinity Street