53 Norton Street
Bristol, Connecticut

Description:

VALUE ADD!!! Investment opportunity in Bristol, CT | 11-unit cash-flowing portfolio consisting of (one) 5-unit (one) 3-unit and (one) 3-unit w/ a garage + 1 additional unit being used for owner storage. 53 Norton is centrally adjacent to one another for ease of management and includes a 440 sq ft garage + 1-Room & 1-Bathroom w/ electric heat that is currently used for storage. 11-unit price is $1.6M and 14-unit price which includes the additional 3 units at 116 Divinity, Bristol is $1.9M. These properties MUST BE SOLD AS A PACKAGE: 52 Colony St, 53 Norton St, 6 Houghton, and 8 Houghton - 116 Divinity can be purchased at a discounted sale price with the portfolio. Ideal for a 1031 exchange or cash-flow investor looking for a low maintenance investment with minimal renovation needs, in a high-demand rental market. Actual income $204k/year with pro forma rents projected at $261k/year, offering a 7% actual-CAP and 9.8% proforma. Properties are in a good condition with gas and electric heat, plenty of off-street parking, and strong upside with below-market rents. Financials (rent roll, P&L, leases) available upon request with POF or Pre-Approval. Don't miss out on this rare opportunity in one of Bristol's strongest rental corridors.

Listing Courtesy of Berkshire Hathaway NE Prop.