Renovated Multifamily
For Sale
$689,000
550 Laurel Ave, Bridgeport, CT 06605
Recent interior upgrades and resurfaced parking support this income-producing residential property.
Property Size3,569 SF
Price / SF$193.05
Days on Market66
Property Features for 550 Laurel Ave
General Information
Standard status
Active
Size
3,569 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1907
Year Renovated
2024
Listing Agency:
eRealty Advisors, Inc.
Listed By:
Sonia Zumba Zumba · License #RES.0827829
(646) 715-7821
Source:
Themialeteam
Added: Aug 11
Changed: Oct 9
Last Checked: Oct 6 at 12:44AM
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 eRealty Advisors, Inc.
Investment Insights
Based on property information with market context.
This multifamily property at 550 Laurel Ave includes substantial interior improvements completed during 2023 and 2024. Renovations include refreshed bathrooms, modernized kitchens, refinished flooring, and multiple replacement windows. The exterior parking area has also been resurfaced and accommodates 2 to 3 vehicles.
The property is situated near shopping, restaurants, schools, parks, public transportation, and major highways in Bridgeport, CT. It is offered for sale in its current AS IS condition.
The property is situated near shopping, restaurants, schools, parks, public transportation, and major highways in Bridgeport, CT. It is offered for sale in its current AS IS condition.
Key Highlights
- Multifamily property at 550 Laurel Ave, Bridgeport, CT
- Improvements completed between 2023 and 2024
- Bathrooms and kitchens have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,981
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$839,620
$839.6K
Cap Rate 7%
$599,729
$599.7K
Cap Rate 9%
$466,456
$466.5K
Market Conditions
NOI Build-Up for 3,569 SF
Gross rent
$80.5K $22.56/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$76.3K $21.39/SF
− OpEx
−$34.3K −$9.62/SF
NOI
$42.0K $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%
$839,620
Cap Rate 7%
$599,729
Cap Rate 9%
$466,456
Alternative Uses
Best Use
Apartment 5plus
$599.7K
$524.8K – $699.7K
NOI $41,981 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,307 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Recent interior upgrades and resurfaced parking support this income-producing residential property.
Where is this multifamily property located?
The property is located at 550 Laurel Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Multifamily property at 550 Laurel Ave, Bridgeport, CT; Improvements completed between 2023 and 2024; Bathrooms and kitchens have been renovated
