Building Details

Year Built 1907

Listing Agency: Exit Realty Private Client

Listed By: Belda Tabora Show Phone

Source: Themialeteam

Added: Jun 9 Changed: Oct 11 Last Checked: Oct 16 at 11:16AM

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Investment Insights

Based on property information with market context.

Built in 1907, this 4,015-square-foot quadplex includes two three-bedroom units, with each occupying its own floor, along with two additional units. The property offers multiple residential layouts within an oversized multifamily configuration.

Situated at 1525 Park Avenue in Bridgeport, the property is positioned along a residential corridor described as offering access to shopping, transportation, schools, and major highways. Its four-unit arrangement and varied floor plans provide a combination of larger apartments and additional residential space.

Key Highlights

• 4,015‑square‑foot quadplex at 1525 Park Avenue
• Two three‑bedroom units, each occupying its own floor
• Two additional units included in the property configuration

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,031

Cap Rate

7.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,040,620 $1.0M

Cap Rate 7%

$743,300 $743.3K

Cap Rate 9%

$578,122 $578.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,015 SF

Gross rent

$79.5K $19.80/SF

− Vacancy

−$5.2K −$1.29/SF

EGI

$74.3K $18.51/SF

− OpEx

−$22.3K −$5.55/SF

NOI

$52.0K $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%

$1,040,620

Cap Rate 7%

$743,300

Cap Rate 9%

$578,122

Alternative Uses

Best Use

Multifamily LT 5

$743.3K

$650.4K – $867.2K (±1% cap)

NOI $52,031 @ 7.0% cap · market cap 7.44%

Second Best

Apartment 5plus

$674.7K

$590.4K – $787.1K (±1% cap)

NOI $47,228 @ 7.0% cap · market cap 6.76%

Theoretical Best

Office A

$1.15M

$1.00M – $1.34M (±1% cap)

NOI $80,218 @ 7.0% cap · market cap 11.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Acupuncture Gym & Fitness Center Home Appliance Store Locksmith Restaurant (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,990

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - 1907 multifamily property with separate floor layouts and additional units for flexible occupancy.

Where is this quadplex located?

The property is located at 1525 Park Ave Bridgeport, CT.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 4,015‑square‑foot quadplex at 1525 Park Avenue; Two three‑bedroom units, each occupying its own floor; Two additional units included in the property configuration