Multi-Family Property Near Seaside
For Sale
$825,000
Pending
1146-1148 Iranistan Avenue, Bridgeport, CT 06605
Multi-family property near Seaside Park, University of Bridgeport, commuter routes.
Property Size3,957 SF
Days on Market209
Property Features for 1146-1148 Iranistan Avenue
General Information
Standard status
Pending
Size
3,957 SF
Property subtype
Multi-Family / 2 Family
Zoning
RBB
Taxes and HOA fees
Annual Taxes
$9,304
Amenities
Yes
Hot Air
15
Partially Finished, Walk-up
Not Applicable
Building Details
Year Built
1910
Listing Agency:
Las Americas Real Estate
(475) 298-2010
Listed By:
Andrew Cevasco · License #REB.0795868
(475) 298-2010
Source:
Compass
Added: Feb 3
Changed: Aug 8
Last Checked: Jul 24 at 12:37PM
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 Las Americas Real Estate
Investment Insights
Based on property information with market context.
This multi-family property at 1146-1148 Iranistan Avenue presents an opportunity for investors or owner-occupants. The property offers a versatile multi-family layout with living spaces and income potential. Its location provides convenient access to Seaside Park, the University of Bridgeport, and key commuter routes. Metro-North Railroad service, downtown amenities, and shopping and dining options are also easily accessible. The property size is 3957 square feet.
Key Highlights
- Multi‑family property ideal for investors or owner‑occupants.
- Strong income potential.
- Convenient location near Seaside Park, University of Bridgeport, and commuter routes.
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
$51,279
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
6.22%
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%
$1,025,580
$1.0M
Cap Rate 7%
$732,557
$732.6K
Cap Rate 9%
$569,767
$569.8K
Market Conditions
NOI Build-Up for 3,957 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
$78.3K $19.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$73.3K $18.51/SF
− OpEx
−$22.0K −$5.55/SF
NOI
$51.3K $12.96/SF
Area
Bridgeport, CT
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,025,580
Cap Rate 7%
$732,557
Cap Rate 9%
$569,767
Alternative Uses
Best Use
Multifamily LT 5
$732.6K
$641.0K – $854.7K
NOI $51,279 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$664.9K
$581.8K – $775.8K
NOI $46,545 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.13M
$988.2K – $1.32M
NOI $79,059 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Duplex - Multi-family property near Seaside Park, University of Bridgeport, commuter routes.
Where is this duplex located?
The property is located at 1146-1148 Iranistan Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Multi‑family property ideal for investors or owner‑occupants.; Strong income potential.; Convenient location near Seaside Park, University of Bridgeport, and commuter routes.
