444 West St, Bristol, CT 06010

Building Details

Year Built

1900

Listing office NorthEast Private Client Group Shelton Show Phone

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

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Overview

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.

Suggested Use

Real Estate Agency Hair Salon Spa & Massage Center Big Box & Wholesale Store Storage Facility Garden Center Nail Salon HVAC Service Hotel & Motel Bakery

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Bristol

County

Hartford

State

Connecticut

Longitude

-72.9503217

Latitude

41.679351

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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