21
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$1,900,000
Est. payment /mo
14 Baths
9,629 SqFt
New
14 Units Bristol, CT 06010
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,629 sqft
Price per Sqft $197
MLS Listing ID 24107578
Full Baths 14
Year Built 1940
Annual Tax Amount $25,752
Property Description
Investor opportunity in Bristol, CT. This 14-unit cash-flowing portfolio offers a strong rental market presence and consists of a 5-unit property, two 3-unit properties, and a 3-unit property with a garage plus an additional unit currently used for owner storage. Included in the portfolio are 116 Divinity St (MLS #24105062), 52 Colony St (MLS #24105135), 53 Norton St (MLS #24105152), and 6 Houghton St (MLS #24105181). The 11-unit package consisting of 52 Colony St, 53 Norton St, and 6 Houghton St is priced at $1.6M and MUST SOLD TOGETHER. 116 Divinity St is available separately at a discounted price if purchased with the portfolio. The properties generate actual income of $204,000 annually, with pro forma rents projected at $261,000. This equates to a 7 percent actual CAP and a 9.8 percent pro forma CAP. All buildings are in good condition with gas and electric heating, ample off-street parking, and minimal renovation needs. Significant upside potential through rent increases, as current rents are below market value. Financials, including rent roll, P&L, and leases, are available upon request with proof of funds or pre-approval. This is an ideal opportunity for a 1031 exchange or investors seeking a low-maintenance, high-yield portfolio.
Location
State CT
County Hartford
Zoning R-15/RM
Interior
Heating Baseboard, Radiator
Cooling Window Unit
Exterior
Utilities Available Electric, Gas
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Shy Grahame • Berkshire Hathaway NE Prop.