Triplex with Rear
138 Read, Bridgeport, CT 06607
For Sale
New
$429,000
Pending
Three levels of living space include eat-in kitchens, hardwood floors, and a partially finished basement.
Property Size1,919 SF
Days on Market4
Property Features for 138 Read
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
Larracuente & Johnson Realty, LLC
(203) 366-7355
Listed By:
Lucy Larracuente-Johnson · License CT REB.0756556
(203) 913-2844
Source:
Iverty
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:14PM
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 Larracuente & Johnson Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1919, this 2,234-square-foot triplex has living areas on three levels, each with an eat-in kitchen; the upper-level kitchen includes stainless steel appliances. Hardwood flooring runs throughout, and the basement is partially finished. A recently built, three-level wood deck extends off the rear of the property. The site also includes a large backyard and paved driveway, with furnaces and hot water heaters described as being in good condition.
The property is at 138 Read in Bridgeport, near the Stratford town line and the Steel Point Harbor area. I-95 North and South, Route 8, and Route 25 connectors are nearby.
The property is at 138 Read in Bridgeport, near the Stratford town line and the Steel Point Harbor area. I-95 North and South, Route 8, and Route 25 connectors are nearby.
Key Highlights
- 2,234‑square‑foot triplex built in 1919
- Living areas and eat‑in kitchens across three levels; upper‑level kitchen has stainless steel appliances
- Partially finished basement and hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,951
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,020
$579.0K
Cap Rate 7%
$413,586
$413.6K
Cap Rate 9%
$321,678
$321.7K
Market Conditions
NOI Build-Up for 2,234 SF
Gross rent
$44.2K $19.80/SF
− Vacancy
−$2.9K −$1.29/SF
EGI
$41.4K $18.51/SF
− OpEx
−$12.4K −$5.55/SF
NOI
$29.0K $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 Rate 5%
$579,020
Cap Rate 7%
$413,586
Cap Rate 9%
$321,678
Alternative Uses
Best Use
Multifamily LT 5
$413.6K
$361.9K – $482.5K
NOI $28,951 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$375.4K
$328.5K – $438.0K
NOI $26,278 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$637.6K
$557.9K – $743.9K
NOI $44,634 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
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Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Bridgeport, CT
Properties on Market for Triplexes in Bridgeport
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three levels of living space include eat-in kitchens, hardwood floors, and a partially finished basement.
Where is this triplex located?
The property is located at 138 Read Bridgeport, CT.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,234‑square‑foot triplex built in 1919; Living areas and eat‑in kitchens across three levels; upper‑level kitchen has stainless steel appliances; Partially finished basement and hardwood flooring throughout
