| CREOP

Sky Realty Group is pleased to present a prime opportunity to acquire a well-located, stabilized 20-unit multifamily portfolio in Bristol, Connecticut. This offering provides immediate in-place cash flow with strong upside through light value-add improvements. Totaling 20 units across two properties and three physical buildings, the portfolio includes 5–7 Upson Street—a 10-unit complex made up of two side-by-side buildings on a single parcel—and 451 Divinity Street, a 10-unit brick apartment building.
The combined portfolio is being offered at a 7.0% cap rate on current income, with a pro forma cap rate of 8.4%, supported by achievable rent increases and operational efficiency. Current average rents of $1,170 are below market, with a pro forma rent of $1,353, representing a 15.6% rental upside.

A well-maintained asset on 0.25 acres, comprising two buildings with 6,826 RSF: 5 Upson is a 2-story brick construction with (8) 1-bedroom units, each with three rooms and a full bath with tub. Electric baseboard heating and individual electric hot water heaters. All utilities are tenant-paid. 7 Upson is a 3-story wood-frame building with vinyl siding with (2) units: (1) 2-bedroom on the first floor and one (1) 3-bedroom unit spanning the second and third floors. Each unit has gas boiler heating and individual gas hot water heaters. Off-street parking and common coin-operated laundry. Key Features: * All separate and tenant-paid utilities * Common area laundry * Ample off-street parking * Two egresses per building * New roof installed in 2021 * Full fire alarm coverage

This 2-story brick apartment building, built in 1965, sits on a 0.55-acre quiet, interior lot and includes (10) 1-bedroom units. Each unit is individually metered, with tenant-paid utilities, a private driveway, and dedicated off-street parking.

* 20-unit portfolio with diversified unit mix (1BR, 2BR, 3BR) * Current cap rate: 7.0% | Pro forma cap rate: 8.4% * 15.6% rent growth potential * $1,170 average rent and $1,353 average proforma rent * Efficient, tenant-paid utility structures * Proven upside through renovations and lease turnovers * Centrally located to regional employers and amenities

Strategically positioned in the heart of Central Connecticut, Bristol is an evolving city with a strong economic foundation, dynamic workforce, and growing demand for quality housing. Located just 20 miles southwest of Hartford and within a 2-hour drive of both New York City and Boston, Bristol offers strategic access to major employment hubs while maintaining a high quality of life and affordability. With a population of approximately 60,000, the city combines suburban appeal with urban convenience, making it increasingly attractive for renters seeking access to regional job markets without the high living costs of major metro areas.

Bristol’s economy is transitioning from its historic manufacturing roots to a diversified base that includes advanced manufacturing, healthcare, financial services, and media. The city is home to ESPN's global headquarters, one of the region’s largest employers, anchoring a robust job market and supporting demand for professional and workforce housing. In recent years, Bristol has undergone significant revitalization, driven by both public and private investment. The Downtown Bristol Renaissance initiative has injected new life into the city core, with mixed-use developments, new retail and dining, public spaces, and infrastructure improvements. The Centre Square redevelopment project continues to attract businesses and residential development, enhancing Bristol’s live-work-play environment. Additionally, the city benefits from proximity to the University of Connecticut Health Center, the Bristol Hospital network, and a growing base of regional employers across nearby towns.

Bristol’s residential market is well-positioned for multifamily investment due to its steady population growth, rising rents, and constrained housing supply. The city maintains high occupancy rates and healthy rent growth, driven by demand from young professionals, families, and downsizing retirees. Compared to neighboring markets, Bristol offers attractive entry pricing with strong value-add and long-term appreciation potential. The local government is pro-development, offering incentives and streamlined processes for housing projects that meet community needs. Moreover, the city's ongoing infrastructure improvements and investment in amenities continue to increase the overall appeal for renters and investors alike.