Multifamily Property with Hardwood
For Sale
$599,900
1211 Park Avenue, Bridgeport, CT 06604
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size4,348 SF
Lot Size0.11 Acres
Price / SF$137.97
Days on Market117
Property Features for 1211 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 8, Bedroom 2, Bedroom 5
Parking
2
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
State to park
Subdivision
West End
Standard status
Active
Size
4,348 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7251
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1914
Architectural style
Other
Listing Agency:
Houlihan Lawrence WD
(203) 701-4848
Listed By:
Robert Fischer
(203) 494-7324
Added: May 1
Changed: Aug 23
Last Checked: Aug 25 at 10:06AM
MLS# 24171583
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1211 Park Avenue, this 4,348-square-foot multifamily property was built in 1914 and includes multiple three-bedroom units with more than eight bedrooms overall. The interiors feature hardwood flooring, high ceilings, and generously sized bedrooms, with recent updates completed to the property. Gas heat and gas hot water serve the building. Public water and public sewer are in place, and the property is identified with RB zoning on a 0.11-acre lot.
The property is positioned in Bridgeport with access to I-95, the Route 25/8 Connector, and the Merritt Parkway, also designated Route 15. The layout includes basement space and three bathrooms, providing a substantial residential configuration within the building’s 4,348 square feet.
The property is positioned in Bridgeport with access to I-95, the Route 25/8 Connector, and the Merritt Parkway, also designated Route 15. The layout includes basement space and three bathrooms, providing a substantial residential configuration within the building’s 4,348 square feet.
Key Highlights
- 4,348 SF multifamily property on a 0.11‑acre lot
- Multiple three‑bedroom units with more than eight bedrooms overall
- Hardwood floors, high ceilings, and large bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,145
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,022,900
$1.0M
Cap Rate 7%
$730,643
$730.6K
Cap Rate 9%
$568,278
$568.3K
Market Conditions
NOI Build-Up for 4,348 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$98.1K $22.56/SF
− Vacancy
−$5.1K −$1.17/SF
EGI
$93.0K $21.39/SF
− OpEx
−$41.8K −$9.62/SF
NOI
$51.1K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,022,900
Cap Rate 7%
$730,643
Cap Rate 9%
$568,278
Alternative Uses
Best Use
Apartment 5plus
$730.6K
$639.3K – $852.4K
NOI $51,145 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,871 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multi-unit residential property with updated interiors, gas-fired systems, and access to major regional roadways.
Where is this multifamily property located?
The property is located at 1211 Park Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 4,348 SF multifamily property on a 0.11‑acre lot; Multiple three‑bedroom units with more than eight bedrooms overall; Hardwood floors, high ceilings, and large bedrooms
