411-417 N Main St - Apartments FOR SALE


Bristol, CT 06010
$3,600,000 USD
781-718-9268
411-417 N Main St, Bristol, CT for Sale
$3,600,000 USD
Apartments - FOR SALE
1/22
null | 7.17% Cap Rate

411-417 N Main St
Bristol, CT 06010


HIGHLIGHTS

  • * Assumable debt of $2.26M at 3.85% interest rate - Please ask Broker for more details.
  • Three Mixed-use Brick Assets located on North Main Street in Bristol, Connecticut
  • Attractive Unit Mix of 14 Two-Beds, 12 One-Beds and Six Commercial/Retail Units
  • Strong Rental History & Significant Upside to Raise Rents to local Market Rates and Renovate Remaining Apartments
  • Assumable Property Manager (lives on-site), Off Street Parking and Laundry Facilities located on Site
  • - Many Capital Improvements including Updated Units, New Boilers, All New Triple-pane Windows, LED Lighting Throughout, & Weatherization of all Units

OVERVIEW

ASSUMABLE 3.85% DEBT! Marcus & Millichap is pleased to present North Main Street mixed-use properties located on North Main Street in Bristol, Connecticut. The three contiguous, brick building portfolio is located on .92 acres comprised of 32 units, including 14 two-bedroom apartments, 12 one-bedroom apartments and 6 commercial/retail spaces. Each building feature two store front commercial spaces on the ground level and apartments above. The majority of the units have been recently updated including new kitchens, baths, and other modern features; along with new boilers and hot water storage tanks, all new triple-pane windows, LED lighting, and weatherization of all the units throughout the three buildings. Combined the buildings are a total of 26,300 square feet and have oil fired forced hot water baseboard in each unit. Additional amenities include laundry and off-street parking for tenants and guests in the back of the buildings. The North Main Street portfolio is conveniently located on one of most prominent streets in the center of Downtown Bristol. The properties are located a block away from Route-6 and approximately 6-miles from I-84. The properties are less than a half hour from Downtown Hartford and in close proximity to many local and national restaurants, cafes, shopping options, schools and fitness centers as well as the brand-new Bristol Hospital and ESPN headquarters. The quality units and convenient location have made the North Main Street portfolio a historically highly demanded asset that will continue for decades to come.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$137 USD /SF

# OF UNITS

32

PRICE/UNIT

$112,500

CAP RATE

7.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

411-430 North Main Street | Assumable 3.85%

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

BD

APN/PARCEL ID

BRIS-000023-000000-000176

ASK ABOUT THIS PROPERTY

Matthew PierceMarcus & MillichapMore Info
781-718-9268

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Matthew PierceMarcus & MillichapMore Info
781-718-9268

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.