385 Park Avenue

Bridgeport, CT 06604 Directions
$525,000 Reduced from $575,000 Reduced $50,000
  • 18Bed
  • 6Baths
  • 6,567Sqft
  • 0.13Acres
  • 1892Built
  • $80Price/Sqft

Property Highlights

  • Jr. High School: Per Board Of Ed
  • High School: Per Board Of Ed
  • Neighborhood: South End
  • Days on Market: 68
  • MLS: 170329939

Property Highlights

  • Jr. High School: Per Board Of Ed
  • High School: Per Board Of Ed
  • Neighborhood: South End
  • Days on Market: 68
  • MLS: 170329939

Welcome to 385 Park Ave; forget house, this is the ideal business opportunity. Legal 4-8 unit multifamily w/ living space across three floors; side by side units. Close to Bridgeport University, rent comes easy as the property is a short walk to campus for students with many bedrooms available. The first floor features side by side apartments – w/ four bedrooms, a Kitchen and full bath each. Access to the basement as well. The second and third floor apartments are also side x side, but a bit larger – duplex style; consisting of the second and third floor, each apartment has 2 full baths, Kitchen and 8 rooms being occupied as bedrooms. Apartments...

Property Highlights

  • Jr. High School: Per Board Of Ed
  • High School: Per Board Of Ed
  • Neighborhood: South End
  • Days on Market: 68
  • MLS: 170329939

Welcome to 385 Park Ave; forget house, this is the ideal business opportunity. Legal 4-8 unit multifamily w/ living space across three floors; side by side units. Close to Bridgeport University, rent comes easy as the property is a short walk to campus for students with many bedrooms available. The first floor features side by side apartments – w/ four bedrooms, a Kitchen and full bath each. Access to the basement as well. The second and third floor apartments are also side x side, but a bit larger – duplex style; consisting of the second and third floor, each apartment has 2 full baths, Kitchen and 8 rooms being occupied as bedrooms. Apartments are railroad design. Bedrooms are decent sizes, about 12x12 sq ft on average. This cash cow is currently netting over $90k NET profit/year – at only 70% capacity – with potential to bring in closer to $120k/year. Recent upgrades include Architectural gable roof, 4 furnaces, insulation, plumbing, electrical panels and 5 meters. The 3rd floor is recently painted/tiled. Besides the University, this home is minutes away from downtown, beach, and I95. Very attractive and competitive CAP rate north of 15% at list price - don't miss out on this opportunity!

Welcome to 385 Park Ave; forget house, this is the ideal business opportunity. Legal 4-8 unit multifamily w/ living space across three floors; side by side units. Close to Bridgeport University, rent comes easy as the property is a short walk to campus for students with many bedrooms available. The first floor features side by side apartments – w/ four bedrooms, a Kitchen and full bath each. Access to the basement as well. The second and third floor apartments are also side x side, but a bit larger – duplex style; consisting of the second and third floor, each apartment has 2 full baths, Kitchen and 8 rooms being occupied as bedrooms. Apartments are railroad design. Bedrooms are decent sizes, about 12x12 sq ft on average. This cash cow is currently netting over $90k NET profit/year – at only 70% capacity – with potential to bring in closer to $120k/year. Recent upgrades include Architectural gable roof, 4 furnaces, insulation, plumbing, electrical panels and 5 meters. The 3rd floor is recently painted/tiled. Besides the University, this home is minutes away from downtown, beach, and I95. Very attractive and competitive CAP rate north of 15% at list price - don't miss out on this opportunity!

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  • Additional Information
    • Days On Market: 65
    • Elementary School: Per Board of Ed
    • Gross Income: 139380
    • High School: Per Board of Ed
    • Junior High School: Per Board of Ed
    • Living Area SqFt: 6,567
    • Neighborhood: South End
    • Sewer: Public Sewer Connected
    • Style: Units on different Floors, Units are Side-by-Side
    • Subtype: 4 Family
    • Tax Amount: $9,920
    • Tax Year: July 2020-June 2021
    • Type: Multi-Family For Sale
    • Unit Count: 1
    • Year Built: 1892
  • Interior/Exterior Features
    • Attic: Yes
    • Beds: 18
    • Exterior Siding: Vinyl Siding
    • Full Baths: 6
    • Heat: Baseboard, Gas on Gas

Listing Courtesy of Neumann Real Estate.

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