Six-Unit Apartment
For Sale
$1,850,000
113 Seaside Avenue, Stamford, CT 06902
Six separately metered units in a three-story building with basement storage and off-street parking.
Property Size4,752 SF
Price / SF$389.31
Days on Market40
Property Features for 113 Seaside Avenue
General Information
Standard status
Active
Size
4,752 SF
Total Parking Spaces
10
Property subtype
5 Family+
Additional Details
Sprinkler System
Yes
Multifamily Units
6
Amenities
secure storage room in basement
sprinkler system in basement
remote controlled smoke and carbon monoxide thru out
Building Details
Year Built
1930
Stories
3
Tenancy
Multi
Listing Agency:
BHGRE Shore & Country
(914) 837-9590
Listed By:
Enrico Difilippo
(914) 837-9590
Source:
Lockandkeyre
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 12:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHGRE Shore & Country
Investment Insights
Based on property information with market context.
This three-story, six-unit apartment building is well maintained and configured with four-room layouts in a railroad arrangement, with two apartments per floor. Each unit is separately metered for gas and electric, and tenants are responsible for heat, hot water, and electric. A secure storage room in the basement is provided for each tenant.
The building includes updated electrical meters and fuse panels. Boilers and hot water heaters were newly replaced within the last seven years. Fire protection features include a sprinkler system in the basement and remote-controlled smoke and carbon monoxide systems throughout, as approved by the fire department.
Off-street parking is available for approximately 10 cars. The property is described as within walking distance to Cove beach, with a bus stop across the street.
The building includes updated electrical meters and fuse panels. Boilers and hot water heaters were newly replaced within the last seven years. Fire protection features include a sprinkler system in the basement and remote-controlled smoke and carbon monoxide systems throughout, as approved by the fire department.
Off-street parking is available for approximately 10 cars. The property is described as within walking distance to Cove beach, with a bus stop across the street.
Key Highlights
- Three‑story 6‑family apartment building built in 1930
- All 6 apartments are 4 rooms in a railroad configuration, with 2 apartments per floor
- All units are separately metered for gas and electric (including heat and hot water)
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
$81,784
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
4.42%
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%
$1,635,680
$1.6M
Cap Rate 7%
$1,168,343
$1.2M
Cap Rate 9%
$908,711
$908.7K
Market Conditions
NOI Build-Up for 4,752 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
$158.5K $33.36/SF
− Vacancy
−$9.8K −$2.07/SF
EGI
$148.7K $31.29/SF
− OpEx
−$66.9K −$14.08/SF
NOI
$81.8K $17.21/SF
Area
Stamford, CT
Vacancy
6.20%
Lease Rate
$33.36 /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%
$1,635,680
Cap Rate 7%
$1,168,343
Cap Rate 9%
$908,711
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,784 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,274 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six separately metered units in a three-story building with basement storage and off-street parking.
Where is this apartment building located?
The property is located at 113 Seaside Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Three‑story 6‑family apartment building built in 1930; All 6 apartments are 4 rooms in a railroad configuration, with 2 apartments per floor; All units are separately metered for gas and electric (including heat and hot water)
