3-Unit Triplex with Private
New
For Sale
$799,000
73-75 Fairlawn Avenue, Bridgeport, CT 06605
Each residence has its own laundry and separate gas and electric meters.
Property Size3,487 SF
Days on Market3
Property Features for 73-75 Fairlawn Avenue
General Information
Standard status
Active
Size
3,487 SF
Property subtype
3 Family
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$15,138
Amenities
private deck
dedicated washer and dryer
Building Details
Building Size
3,487 SF
Year Built
1915
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Laurie Crouse
(203) 984-8154
Source:
Higginsgroup
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:09AM
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 Coldwell Banker Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1915, this triplex contains three apartments arranged one per floor. Each apartment offers two bedrooms, a private deck, dedicated washer and dryer, and separate gas and electric meters. Select updates have been completed in all three units, and each apartment is currently occupied.
The garage is included in the first-floor tenant’s rental arrangement. The property is in Flood Zone X; buyers should confirm insurance requirements with their provider.
The garage is included in the first-floor tenant’s rental arrangement. The property is in Flood Zone X; buyers should confirm insurance requirements with their provider.
Key Highlights
- Three apartments, each with two bedrooms and a private deck
- One apartment on each of the building’s three floors
- Dedicated washer and dryer in every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,188
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$903,760
$903.8K
Cap Rate 7%
$645,543
$645.5K
Cap Rate 9%
$502,089
$502.1K
Market Conditions
NOI Build-Up for 3,487 SF
Gross rent
$69.0K $19.80/SF
− Vacancy
−$4.5K −$1.29/SF
EGI
$64.6K $18.51/SF
− OpEx
−$19.4K −$5.55/SF
NOI
$45.2K $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%
$903,760
Cap Rate 7%
$645,543
Cap Rate 9%
$502,089
Alternative Uses
Best Use
Multifamily LT 5
$645.5K
$564.9K – $753.1K
NOI $45,188 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$586.0K
$512.7K – $683.6K
NOI $41,017 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$995.3K
$870.9K – $1.16M
NOI $69,669 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
614
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own laundry and separate gas and electric meters.
Where is this triplex located?
The property is located at 73-75 Fairlawn Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms and a private deck; One apartment on each of the building’s three floors; Dedicated washer and dryer in every apartment
