Bristol Multifamily Investment
For Sale
Contact for pricing
Pending
444 West St, Bristol, CT 06010
Value-add 7-unit property with income and appreciation potential.
Property Size6,940 SF
Lot Size0.30 Acres
Days on Market778
Property Features for 444 West St
General Information
Standard status
Pending
Size
6,940 SF
Class
C
Total Parking Spaces
6
Lot size
0.30 Acres
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Year Built
1900
Year Renovated
1913
Buildings
1
Stories
2
Units
7
Listing Agency:
NorthEast Private Client Group Shelton
(203) 727-3212
Listed By:
Rich Edwards · License #RES.0802816
Source:
Crexi
Added: Jul 13, 2024
Changed: Aug 27
Last Checked: Aug 26 at 2:06AM
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
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 06010, CT
60,748
Population
26,726
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
26.5 sq mi
ZIP Area
2,292
Density / Sq Mi
$83,642
Median Household Income
$50,244
Median Earnings
$1,307
Median Rent
$252,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
