75 UNIT portfolio. bristol, ct

Transcription

1 75 UNIT portfolio bristol, ct

2 Investment overview United Multi Family has been exclusively retained to sell a 75 unit package in Bristol, CT. The package consists of two sites: 572 Brook Street (58 units) and Middle Street (17 units). The apartments located at 572 Brook Street in Bristol, CT is comprised of 58 one-bedroom units in a three-story brick garden style building built in Situated on a 1.33-acre site, there is off-street parking and on-site laundry facilities for the tenants. Recent capital improvements completed in the last two years include exterior brick pointing, all new vinyl windows, new mailboxes, two hot water heaters, security cameras, installation of energy efficient lights (hallways & units) and updated common areas (paint & carpet). The two laundry rooms have new machines managed by Mac-Grey. There is an on-site office and storage for owner-use at the property. The apartments located at Middle Street in Bristol, CT is comprised of 17 units (2-two bedroom & 15-one bedrooms) totaling 10,285 rentable square feet in six buildings consisting of 2-six unit, 1-two unit and 3-single family homes. Situated on a 4.18 acre site, there is off street parking for tenants. Recent CapEx completed in the last 2 years include a new asphalt parking lot, new vinyl windows, several new roofs, exteriors painted or vinyled, trim wrapped and new gutters. The two-6 families electrical was updated to breakers and a new fire alarm system was installed. The property is located directly across the street from ESPN. The offering presents investors with an opportunity to acquire 75 units in close proximity in Bristol. The properties have undergone significant capital improvements and offer upside with the potential to further increase rents through a value-add unit renovation strategy. Broker Disclosure: Matthew Cawley, the licensed real estate broker handling the sale, is selling the package in Bristol, CT for an immediate family member. This immediate family member is also a licensed real estate broker in the state of Connecticut. 75 UNITS $841 Avg. 1BR Rent bristol (Costar) 2.8% Vacancy Rate Bristol (Costar) 2

3 property summary Address City, State 572 Brook Street Bristol, CT Number of Units 58 Year Constructed 1970 Type of Buildings 3-Story Brick Garden Style Parking Off-Street Exterior Brick Roof Flat-Rubber Heat FHW by Oil/ Owner Pays Hot Water Oil/ Owner Pays Site Size 1.33 Acres Rentable Sq.Ft. 45,114 Sq.Ft. 572 brook street 3

4 property summary Address City, State Middle Street Bristol, CT Number of Units 17 Year Constructed 1951 No. of Buildings 6 Parking Off-Street Exterior Stucco Roofs Flat & Pitched Site Size 4.18 Acres Rentable Sq.Ft. 10,285 Sq.Ft Middle Street headquarters 4

5 75-Unit portfolio bristol, ct Visit 572brook.com EXCLUSIVELY LISTED BY Matt Cawley Senior Director Two Adams Place, Suite 120 Quincy, MA Broker Disclosure: Matthew Cawley, the licensed real estate broker handling the sale, is selling the package in Bristol, CT for an immediate family member. This immediate family member is also a licensed real estate broker in the state of Connecticut.