20 Units in Bristol - Upson and Divinity 2 Multifamily Properties Offered at $2,700,000 in Bristol, CT

Sky Realty Group is pleased to present a 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 on a 0.55-acre quiet, interior lot and includes (10) 1-bedroom units with Off-street parking.