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Bristol,CT 06010
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