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451 Divinity St 10 Unit Apartment Building $1,199,000 ($119,900/Unit) 6.92% Cap Rate Bristol, CT 06010
Investment Highlights
- Value Add
- Accessible Amenities
- Downtown Bristol Location
- Tenant Paid Utilities
Executive Summary
Recently reduced to $1,199,000, this 10-unit multifamily at 451 Divinity St presents a compelling opportunity to acquire scale at an attractive basis in a growing Central Connecticut market. Located just 20 miles southwest of Hartford and within two hours of New York City and Boston, Bristol combines affordability with strong access to regional employment hubs, attracting renters priced out of larger metro areas.
Bristol’s economy has diversified beyond its manufacturing roots into healthcare, advanced manufacturing, financial services, and media, anchored by ESPN’s global headquarters. Ongoing redevelopment initiatives, including Downtown Bristol and Centre Square, are driving residential demand, supported by proximity to UConn Health and Bristol Hospital.
This property offers strong cash flow, high occupancy, and upside potential in a market with constrained housing supply. With an actual NOI of $82,918, a 6.9% cap rate, and a proforma ROI of 9.7%, it’s an ideal opportunity for investors seeking immediate income and long-term growth in a high-demand rental market.
Bristol’s economy has diversified beyond its manufacturing roots into healthcare, advanced manufacturing, financial services, and media, anchored by ESPN’s global headquarters. Ongoing redevelopment initiatives, including Downtown Bristol and Centre Square, are driving residential demand, supported by proximity to UConn Health and Bristol Hospital.
This property offers strong cash flow, high occupancy, and upside potential in a market with constrained housing supply. With an actual NOI of $82,918, a 6.9% cap rate, and a proforma ROI of 9.7%, it’s an ideal opportunity for investors seeking immediate income and long-term growth in a high-demand rental market.
Property Facts
| Price | $1,199,000 | Building Class | B |
| Price Per Unit | $119,900 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Cap Rate | 6.92% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | A | ||
| Price | $1,199,000 |
| Price Per Unit | $119,900 |
| Sale Type | Investment |
| Cap Rate | 6.92% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.55 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | A |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | BRIS-000012-000000-000044 | Improvements Assessment | $454,930 |
| Land Assessment | $203,000 | Total Assessment | $657,930 |
Property Taxes
Parcel Number
BRIS-000012-000000-000044
Land Assessment
$203,000
Improvements Assessment
$454,930
Total Assessment
$657,930
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451 Divinity St
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