411-430 North Main Street | Assumable 3.85% | 411-417 N Main St
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411-430 North Main Street | Assumable 3.85% 411-417 N Main St
32 Unit Apartment Building $3,600,000 ($112,500/Unit) 7.17% Cap Rate Bristol, CT 06010
Investment Highlights
- * Assumable debt of $2.26M at 3.85% interest rate - Please ask Broker for more details.
- Attractive Unit Mix of 14 Two-Beds, 12 One-Beds and Six Commercial/Retail Units
- Assumable Property Manager (lives on-site), Off Street Parking and Laundry Facilities located on Site
- Three Mixed-use Brick Assets located on North Main Street in Bristol, Connecticut
- Strong Rental History & Significant Upside to Raise Rents to local Market Rates and Renovate Remaining Apartments
- - Many Capital Improvements including Updated Units, New Boilers, All New Triple-pane Windows, LED Lighting Throughout, & Weatherization of all Units
Executive Summary
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.
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.
Property Facts
| Price | $3,600,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 0.66 AC |
| Sale Type | Investment | Building Size | 26,300 SF |
| Cap Rate | 7.17% | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 1.22/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $3,600,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 7.17% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 26,300 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1913 |
| Parking Ratio | 1.22/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | - |
| 1+1 | 12 | - | - |
| Studios | 6 | - | - |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | BRIS-000023-000000-000176 | Improvements Assessment | $1,095,080 |
| Land Assessment | $110,390 | Total Assessment | $1,205,470 |
PROPERTY TAXES
Parcel Number
BRIS-000023-000000-000176
Land Assessment
$110,390
Improvements Assessment
$1,095,080
Total Assessment
$1,205,470
zoning
| Zoning Code | BD |
| BD |
-
Matthew Pierce -
Marcus & Millichap
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411-430 North Main Street | Assumable 3.85% | 411-417 N Main St
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