305 Parrott Ave - Apartments FOR SALE


Bridgeport, CT 06606- Brooklawn-St Vincent
$2,300,000 USD
203-335-5117
305 Parrott Ave, Bridgeport, CT for Sale
$2,300,000 USD
Apartments - FOR SALE
1/15
null | 7.55% Cap Rate

305 Parrott Ave
Bridgeport, CT 06606
Brooklawn-St Vincent


HIGHLIGHTS

  • Solid brick corner property
  • Value Add opportunity with the majority of the rents below current market value
  • Updated mechanicals and 100% occupancy
  • Excellent unit mix of one bedroom (13) and studio (3)apartments in very high demand in the Bridgeport rental market
  • Prime Bridgeport location close to all major attractions

OVERVIEW

Baldwin Pearson & Co., Inc. is pleased to exclusively present 305 Parrott Avenue, a rare multifamily offering in one of Connecticut's most dynamic real estate markets. This corner brick building commands a highly visible presence at the intersection of heavily trafficked Capitol Avenue and Parrott Avenue in Bridgeport's North End, comprising 16 residential units, 13 one-bedroom apartments and 3 studios. The unit mix is perfect for today's rental market where smaller unit demand continues to outpace supply. With strong day-one returns already in place and multiple pathways to grow the rent roll, including strategic lease-up at market rents, targeted interior upgrades, and operational efficiencies, 305 Parrott Avenue represents an outstanding opportunity with genuine value-add upside in a market supported by major employment anchors and limited new supply.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

16

PRICE/UNIT

$143,750

CAP RATE

7.55%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1941

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,185 SF

ZONING

RC

APN/PARCEL ID

BRID-002140-000005

ASK ABOUT THIS PROPERTY

Robert ShawahBaldwin Pearson & Company, Inc.More Info
203-335-5117

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Robert ShawahBaldwin Pearson & Company, Inc.More Info
203-335-5117

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