Two-Building Apartment
For Sale
Contact for pricing
285 Golden Hill St, Bridgeport, CT 06604
Modern downtown apartments with private balconies, in-unit laundry, individually metered utilities, and dedicated garage parking.
Property Size18,480 SF
Price / SF$207.79
Days on Market188
Property Features for 285 Golden Hill St
General Information
Standard status
Active
Size
18,480 SF
Elevators
No
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
24
Amenities
hardwood cabinetry
upgraded appliance packages
granite countertops
in-unit washer and dryers
private balconies
individually metered utilities
Building Details
Buildings
2
Stories
3
Units
24
Listing Agency:
NorthEast Private Client Group Shelton
(203) 727-3212
Listed By:
Rich Edwards · License #RES.0802816
Source:
Crexi
Added: Feb 24
Changed: Aug 30
Last Checked: Aug 30 at 11:16PM
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 NorthEast Private Client Group Shelton
Investment Insights
Based on property information with market context.
Golden Hill & Broad Apartments comprises two three-story walk-up buildings at 285 Golden Hill St in downtown Bridgeport. Constructed between 2013 and 2014, the property contains 24 residential units totaling 18,480 square feet of gross living area, with 12 units in each building. Apartment interiors feature hardwood cabinetry, upgraded appliance packages, granite countertops, in-unit washers and dryers, and private balconies. Electric hot water heaters and PTAC heating and cooling systems serve the units, while individually metered utilities support a tenant-paid utility structure.
A dedicated garage across the street provides off-street parking for residents. The property is within walking distance of downtown Bridgeport retail, dining, entertainment, and the Bridgeport Metro-North station, which provides direct service to New York City. Its setting also places the apartments near major employment centers and healthcare institutions.
A dedicated garage across the street provides off-street parking for residents. The property is within walking distance of downtown Bridgeport retail, dining, entertainment, and the Bridgeport Metro-North station, which provides direct service to New York City. Its setting also places the apartments near major employment centers and healthcare institutions.
Key Highlights
- 24 residential units across two 12‑unit apartment buildings
- 18,480 square feet of gross living area
- Constructed between 2013 and 2014; three‑story walk‑up design
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
$217,376
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
5.66%
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%
$4,347,520
$4.3M
Cap Rate 7%
$3,105,371
$3.1M
Cap Rate 9%
$2,415,289
$2.4M
Market Conditions
NOI Build-Up for 18,480 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
$416.9K $22.56/SF
− Vacancy
−$21.7K −$1.17/SF
EGI
$395.2K $21.39/SF
− OpEx
−$177.9K −$9.62/SF
NOI
$217.4K $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%
$4,347,520
Cap Rate 7%
$3,105,371
Cap Rate 9%
$2,415,289
Alternative Uses
Best Use
Apartment 5plus
$3.11M
$2.72M – $3.62M
NOI $217,376 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.27M
$4.62M – $6.15M
NOI $369,222 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
2,505
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 - Modern downtown apartments with private balconies, in-unit laundry, individually metered utilities, and dedicated garage parking.
Where is this apartment building located?
The property is located at 285 Golden Hill St Bridgeport, CT.
What is the asking price?
The asking price for this property is $3,840,000.
What are key features of this property?
This property features: 24 residential units across two 12‑unit apartment buildings; 18,480 square feet of gross living area; Constructed between 2013 and 2014; three‑story walk‑up design
