Three-Unit Multifamily
New
For Sale
$725,000
1535 Park, Bridgeport, CT 06604
Separate utility systems serve the individual floor plans.
Property Size1,907 SF
Price / SF$177.26
Days on Market6
Property Features for 1535 Park
General Information
Standard status
Active
Size
1,907 SF
Property subtype
3 Family
Lease Term
Listing ID: 24212776, Standard Status: Coming Soon, MLS Status: Coming Soon, Property Subtype: 3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
1,907 SF
Year Built
1907
Buildings
1
Stories
3
Listing Agency:
RE/MAX Heritage
(203) 254-7555
Listed By:
Dez Slezak · License #REB.0794648
Source:
Iverty
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 12 at 8:45PM
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 residence contains three units with a total of 9 bedrooms and 3 full bathrooms. Separate utility systems serve the floor plans, providing distinct utility service for each unit.
The property is near Seaside Park, the University of Bridgeport, the West End and downtown Bridgeport. Commuter options identified for the area include the Metro-North train station, bus lines and I-95.
The property is near Seaside Park, the University of Bridgeport, the West End and downtown Bridgeport. Commuter options identified for the area include the Metro-North train station, bus lines and I-95.
Key Highlights
- Three units across three stories
- 9 bedrooms and 3 full bathrooms
- Separate utility systems for the floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,003
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,060,060
$1.1M
Cap Rate 7%
$757,186
$757.2K
Cap Rate 9%
$588,922
$588.9K
Market Conditions
NOI Build-Up for 4,090 SF
Gross rent
$81.0K $19.80/SF
− Vacancy
−$5.3K −$1.29/SF
EGI
$75.7K $18.51/SF
− OpEx
−$22.7K −$5.55/SF
NOI
$53.0K $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%
$1,060,060
Cap Rate 7%
$757,186
Cap Rate 9%
$588,922
Alternative Uses
Best Use
Multifamily LT 5
$757.2K
$662.5K – $883.4K
NOI $53,003 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$687.3K
$601.4K – $801.8K
NOI $48,110 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,716 @ 7.0% cap · market cap 11.27%
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 individual floor plans.
Where is this triplex located?
The property is located at 1535 Park 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: Three units across three stories; 9 bedrooms and 3 full bathrooms; Separate utility systems for the floor plans
