Fully Occupied 4-Unit Residential
For Sale
$810,000
Pending
108 Lindley St, Bridgeport, CT 06606
Fully occupied four-family with four 3-bedroom, 1-bath units and recently updated roof and water heaters.
Property Size4,668 SF
Days on Market131
Property Features for 108 Lindley St
General Information
Standard status
Pending
Size
4,668 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Building Size
4,668 SF
Year Built
1920
Listing Agency:
Top Tier Realty Group, LLC
Listed By:
Lisa Nussbaum · License #REB.0794757
(203) 521-5339
Source:
Elliman
Added: Apr 28
Changed: Sep 4
Last Checked: Sep 4 at 12:03PM
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 Top Tier Realty Group, LLC
Investment Insights
Based on property information with market context.
This fully occupied four-family residential property includes four separate units, each configured with three bedrooms and one bathroom. The roof is reported as two years old, and the property also features newer water heaters.
Situated in a walkable area, the public remarks note BikeScore of 52 and WalkScore of 83, with a TransitScore of 35.
The building is offered for sale as an income-producing multifamily asset with stable occupancy in place.
Situated in a walkable area, the public remarks note BikeScore of 52 and WalkScore of 83, with a TransitScore of 35.
The building is offered for sale as an income-producing multifamily asset with stable occupancy in place.
Key Highlights
- Fully occupied 4‑family built in 1920 with four 3‑bedroom/1‑bath units
- Recently updated roof (about 2 years old)
- Newer water heaters
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
$60,493
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
7.47%
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%
$1,209,860
$1.2M
Cap Rate 7%
$864,186
$864.2K
Cap Rate 9%
$672,144
$672.1K
Market Conditions
NOI Build-Up for 4,668 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
$92.4K $19.80/SF
− Vacancy
−$6.0K −$1.29/SF
EGI
$86.4K $18.51/SF
− OpEx
−$25.9K −$5.55/SF
NOI
$60.5K $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%
$1,209,860
Cap Rate 7%
$864,186
Cap Rate 9%
$672,144
Alternative Uses
Best Use
Multifamily LT 5
$864.2K
$756.2K – $1.01M
NOI $60,493 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$784.4K
$686.4K – $915.2K
NOI $54,909 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,264 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Quadplex - Fully occupied four-family with four 3-bedroom, 1-bath units and recently updated roof and water heaters.
Where is this quadplex located?
The property is located at 108 Lindley St Bridgeport, CT.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Fully occupied 4‑family built in 1920 with four 3‑bedroom/1‑bath units; Recently updated roof (about 2 years old); Newer water heaters
