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USACTBristolN/a7 and 451 Upson and Divinity Street
7 and 451 Upson And Divinity Street, Home with 20 bedrooms, 20 bathrooms and 20 parking in Bristol CT | Image 1
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$2,700,000

7 and 451 Upson and Divinity Street, Bristol, CT

Real Estate

For Sale

$--,---,---
202020
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $23,315
Days Active 3
Lot Size 
Approx. Age 1900
MLS® Number 24103386

Property Address: 

Average square foot calculated using Size range provided by listing agent.

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.Show Description
MLS® Number24103386
Laundry LevelCoin Op Laundry, lower level
Central VacNo
FireplaceNo
Acreage0.8
Exterior
GarageNo
Approx. Age1900
BasementNone
DrivewayNone, Off Street Parking
Garage Spaces
HeatElectric, Oil, Baseboard
A/CNone
Heating Fuel

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