Three-Unit Multifamily
New
For Sale
$725,000
1535 Park Avenue, Bridgeport, CT 06604
Separate utility systems serve the property's three residential levels.
Property Size5,190 SF
Days on Market3
Property Features for 1535 Park Avenue
General Information
Standard status
Active
Size
5,190 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,796
Building Details
Building Size
5,190 SF
Year Built
1907
Buildings
1
Stories
3
Listing Agency:
RE/MAX Heritage
Listed By:
Dez Slezak · License #REB.0794648
(203) 344-7685
Source:
Higginsgroup
Added: Oct 11
Changed: Oct 12
Last Checked: Oct 13 at 12:07AM
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 RE/MAX Heritage
Investment Insights
Based on property information with market context.
Built in 1907, this three-story multifamily property contains 5,190 square feet, with a total of 9 bedrooms and 3 full bathrooms. Its three residential levels each have separate utility systems, providing distinct utility management for the building's floor plans.
The property is near Seaside Park, the University of Bridgeport, and dining and cultural destinations in Bridgeport’s West End and downtown. Transportation options in the surrounding area include the Metro North train station, bus lines, and access to I-95.
The property is near Seaside Park, the University of Bridgeport, and dining and cultural destinations in Bridgeport’s West End and downtown. Transportation options in the surrounding area include the Metro North train station, bus lines, and access to I-95.
Key Highlights
- 5,190 square feet across three stories
- 9 bedrooms and 3 full bathrooms
- Separate utility systems for each floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,049
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,220,980
$1.2M
Cap Rate 7%
$872,129
$872.1K
Cap Rate 9%
$678,322
$678.3K
Market Conditions
NOI Build-Up for 5,190 SF
Gross rent
$117.1K $22.56/SF
− Vacancy
−$6.1K −$1.17/SF
EGI
$111.0K $21.39/SF
− OpEx
−$49.9K −$9.62/SF
NOI
$61.0K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,220,980
Cap Rate 7%
$872,129
Cap Rate 9%
$678,322
Alternative Uses
Best Use
Multifamily LT 5
$960.8K
$840.7K – $1.12M
NOI $67,258 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$872.1K
$763.1K – $1.02M
NOI $61,049 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,694 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,556
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Separate utility systems serve the property's three residential levels.
Where is this triplex located?
The property is located at 1535 Park Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 5,190 square feet across three stories; 9 bedrooms and 3 full bathrooms; Separate utility systems for each floor plan
