Renovated 15-Unit Apartment
For Sale
$2,899,999
1795 North Ave, Bridgeport, CT 06604
Brick construction and separately metered utilities support a streamlined multifamily operating profile.
Property Size9,590 SF
Price / SF$302.40
Days on Market52
Property Features for 1795 North Ave
General Information
Standard status
Active
Size
9,590 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
15
Building Details
Year Built
1968
Construction
brick
Listing Agency:
Baldwin Pearson & Co., Inc
(203) 335-5117
Listed By:
Daniel Shawah · License #RES.0829215
Source:
Homesbyshoshana
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 28 at 12:50PM
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 Baldwin Pearson & Co., Inc
Investment Insights
Based on property information with market context.
This multifamily property at 1795 North Avenue contains 15 residential units within a brick apartment building constructed in 1968. The apartments have undergone extensive renovations, providing updated interiors across the residential component. Separate utility metering for every unit gives ownership a clearly defined utility structure and reduces exposure to building-wide utility costs.
The property is positioned along North Avenue in Bridgeport, CT, with access to major transportation routes, employment centers, shopping, and public transit. The asset is zoned RB and is presented as a for-sale apartment building.
The property is positioned along North Avenue in Bridgeport, CT, with access to major transportation routes, employment centers, shopping, and public transit. The asset is zoned RB and is presented as a for-sale apartment building.
Key Highlights
- 15 residential units with full renovations
- Brick apartment building constructed in 1968
- Separate utility meters for every unit
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
$112,805
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
3.89%
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%
$2,256,100
$2.3M
Cap Rate 7%
$1,611,500
$1.6M
Cap Rate 9%
$1,253,389
$1.3M
Market Conditions
NOI Build-Up for 9,590 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
$216.4K $22.56/SF
− Vacancy
−$11.3K −$1.17/SF
EGI
$205.1K $21.39/SF
− OpEx
−$92.3K −$9.62/SF
NOI
$112.8K $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 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%
$2,256,100
Cap Rate 7%
$1,611,500
Cap Rate 9%
$1,253,389
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,805 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.19M
NOI $191,604 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
1,477
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?
Apartment building - Brick construction and separately metered utilities support a streamlined multifamily operating profile.
Where is this apartment building located?
The property is located at 1795 North Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $2,899,999.
What are key features of this property?
This property features: 15 residential units with full renovations; Brick apartment building constructed in 1968; Separate utility meters for every unit
