Three-Unit Multifamily
For Sale
$679,900
869 Central Ave, Bridgeport, CT 06607
Three separate residential levels offer kitchens, bedrooms, bathrooms, and additional basement storage for multifamily use.
Property Size3,377 SF
Lot Size0.14 Acres
Price / SF$144.41
Days on Market10
Property Features for 869 Central Ave
General Information
Standard status
Active
Size
3,377 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
3,377 SF
Year Built
1909
Buildings
1
Stories
3
Listing Agency:
RE/MAX Right Choice
Listed By:
Paul Ferreira · License #RES.0756087
(203) 209-8111
Source:
Elliman
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 22 at 4:15PM
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 Right Choice
Investment Insights
Based on property information with market context.
This three-unit multifamily property at 869 Central Ave includes 14 rooms, 7–8 bedrooms, and 3 bathrooms across three residential floors. The building contains 4,708 total square feet, including 3,377 square feet of living space and 926 square feet of basement area. Each floor has an eat-in kitchen, bedrooms, and living or dining areas, while the basement provides laundry, mechanical space, and storage. Outdoor features include a first-floor deck and second-floor balcony.
Constructed in 1909, the property occupies a 6,054-square-foot lot, or 0.14 acres. Access to I-95 is 0.59 miles away, with major shopping 0.78 miles from the property. Bridgeport train station is 2.9 miles away, Seaside Park is 3.7 miles away, and Bridgeport Hospital Yale New Haven is 1.6 miles away. WalkScore is 80, BikeScore is 54, and TransitScore is 49.
Constructed in 1909, the property occupies a 6,054-square-foot lot, or 0.14 acres. Access to I-95 is 0.59 miles away, with major shopping 0.78 miles from the property. Bridgeport train station is 2.9 miles away, Seaside Park is 3.7 miles away, and Bridgeport Hospital Yale New Haven is 1.6 miles away. WalkScore is 80, BikeScore is 54, and TransitScore is 49.
Key Highlights
- Three‑unit layout with 14 rooms, 7–8 bedrooms, and 3 bathrooms
- 4,708 total square feet, including 3,377 square feet of living space
- 926 square feet of basement space with laundry, mechanicals, and storage
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
$61,011
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
8.97%
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%
$1,220,220
$1.2M
Cap Rate 7%
$871,586
$871.6K
Cap Rate 9%
$677,900
$677.9K
Market Conditions
NOI Build-Up for 4,708 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
$93.2K $19.80/SF
− Vacancy
−$6.1K −$1.29/SF
EGI
$87.2K $18.51/SF
− OpEx
−$26.1K −$5.55/SF
NOI
$61.0K $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 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%
$1,220,220
Cap Rate 7%
$871,586
Cap Rate 9%
$677,900
Alternative Uses
Best Use
Multifamily LT 5
$871.6K
$762.6K – $1.02M
NOI $61,011 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$791.1K
$692.2K – $923.0K
NOI $55,379 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,064 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
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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?
Triplex - Three separate residential levels offer kitchens, bedrooms, bathrooms, and additional basement storage for multifamily use.
Where is this triplex located?
The property is located at 869 Central Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Three‑unit layout with 14 rooms, 7–8 bedrooms, and 3 bathrooms; 4,708 total square feet, including 3,377 square feet of living space; 926 square feet of basement space with laundry, mechanicals, and storage
