55 Foley Street, Bristol, CT 06010 (MLS # 24210254)

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PRICE $369,900 BEDS 5 BATHS 3 HOME SIZE 1,784 sqft LOT SIZE 5,663 sqft

ATTENTION INVESTORS! Hard-to-find value at this price point! Fully occupied 3-family investment opportunity near Downtown Bristol offering strong in-place income plus rental upside. Property consists of two 2-bedroom apartments and one efficiency, currently generating $3,750/month ($45,000 annually). The second-floor HAP-assisted unit rents for $1,700/month, while the first-floor rent has never been increased, providing future upside. Efficiency apartment was renovated in 2024. A detached 3-bay garage is a major added feature, providing valuable parking/storage and long-term value. Additional features include updated electrical with 4 separate panels and 3 separate heating systems. Recent exterior improvements include painting, power washing, railing repairs and refreshed stairs. Coin-operated laundry equipment is located in the basement; operating condition is unknown. Seller's market-rent analysis supports potential residential rents of approximately $4,200-$4,550/month. Conveniently located near Downtown Bristol. Sold as-is. One of the parties to the LLC has an active real estate license. Three legal residential units consisting of two 2-bedroom apartments and one efficiency. Property is fully occupied with current residential rents totaling $3,750/month. First-floor 2BR rents for $1,250/month and has never had a rent increase. Second-floor 2BR is HAP-assisted at $1,700/month. Efficiency rents for $800/month and was renovated in 2024. Seller's market-rent analysis supports approximately $1,650-$1,750/month for the first-floor 2BR, $1,650-$1,750/month for the second-floor 2BR, and $1,000-$1,150/month for the efficiency, for total potential residential rents of approximately $4,300-$4,650/month. Market rents and future income are projections only and should be independently verified by buyer. Additional features include a detached 3-bay garage, updated electrical with four separate panels, and three separate heating systems. Two boilers are located in the basement, with the third-floor unit served by its own natural-gas heating system located within the unit. Recent exterior improvements include painting, power washing, railing repairs and refreshed stairs. Coin-operated laundry equipment is located in the basement; seller makes no representation regarding its current operating condition. Owner currently pays water and common-area electric.