444 West St Bristol, CT 6010
Value-add 7-unit property with income and appreciation potential.
Type:Multifamily
Property size:
6,940 SFLot size:
0.30 Acres- Added:
- Jul 13, 2024
- Days on Market:
- 642
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 444 West St
General Information
- Standard status
- Active
- Size
- 6,940 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agent Rich Edwards License #RES.0802816
Listing office NorthEast Private Client Group Shelton
Listing date Jul 13, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of NorthEast Private Client Group Shelton
Overview
Bristol Multifamily Investment Opportunity
West Street Apartments, located at 444-454 West Street in Bristol, Connecticut, presents an opportunity to acquire a 7-unit multifamily property. Constructed in 1913, the property consists of two buildings totaling 6,940 square feet. This investment offers immediate income with upside potential through rent growth and operational enhancements. The property features a mix of spacious units with a classic New England architectural aesthetic. Situated on 0.3 acres in a desirable residential corridor of Bristol, the property benefits from strong tenant demand, proximity to major employers, and convenient access to nearby retail, schools, and public transportation. All units are individually metered for electricity, and tenants are responsible for electricity, cooking, and portions of heat and hot water, minimizing ownership expenses. The average current rents are $1,384, which remain below the market average of $1,471, signaling a clear path to increased cash flow through modest rent adjustments. West Street Apartments offers investors a stable, well-maintained asset with both income security and value appreciation potential in the growing Central Connecticut market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.9503217
- Latitude
- 41.679351
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Value-add 7-unit property with income and appreciation potential.
Where is this apartment building located?
The property is located at 444 West St Bristol, CT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: High In‑Place Cap Rate: 9.40% provides immediate strong income; Value‑Add Opportunity: Pro forma cap rate of 11.66% achievable through rent growth and operational improvements; Below Market Rents: Current average rents of $1,384 offer upside potential
