451 Divinity St 10 Unit Apartment Building $1,250,000 ($125,000/Unit) 7.01% Cap Rate Bristol, CT 06010

451 Divinity St is a 2-story brick apartment building, built in 1965, nestled in a 0.55-acre quiet, interior lot. Comprised of (10) 1-bedroom apartment units, this property features separately metered and tenant-paid utilities, and a private driveway and parking lot. An excellent stabilized, value-add opportunity in a location with increasing rental demand.
Can Be Sold Together With 5-7 Upson Street (10 Units, Listed at $1,390,000)
Strategically positioned in the heart of Central Connecticut, Bristol is an evolving city with a strong economic foundation, dynamic workforce, and growing demand for quality housing. Located just 20 miles southwest of Hartford and within a 2-hour drive of both New York City and Boston, Bristol offers strategic access to major employment hubs while maintaining a high quality of life and affordability. With a population of approximately 60,000, the city combines suburban appeal with urban convenience, making it increasingly attractive for renters seeking access to regional job markets without the high living costs of major metro areas.
Bristol’s residential market is well-positioned for multifamily investment due to its steady population growth, rising rents, and constrained housing supply. The city maintains high occupancy rates and healthy rent growth, driven by demand from young professionals, families, and downsizing retirees. Compared to neighboring markets, Bristol offers attractive entry pricing with strong value-add and long-term appreciation potential. The local government is pro-development, offering incentives and streamlined processes for housing projects that meet community needs. Moreover, the city's ongoing infrastructure improvements and investment in amenities continue to increase the overall appeal for renters and investors alike.