70 Weber AVE
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70 Weber AVE
7 Unit Apartment Building $1,295,900 ($185,129/Unit) 7.62% Cap Rate Bridgeport, CT 06610
Executive Summary
Own your own condominium complex! Amazing 8 unit condo complex located on the Bridgeport / Stratford line. 7 of the 8 units are included in this sale (given you full control of the building and association). This well-laid-out building has secure password access, garage spaces for all units, direct access to the Boston Avenue corridor, is walking distance to schools, shopping, entertainment, and bus lines. Only 4 minutes away from Bridgeport Hospital! All units are currently rented to great long-term tenants (who would like to stay). Low taxes, easy maintenance, and tremendous upside to add value. This is an investment dream. Whether you are a seasoned investor, or just starting to build your portfolio… you’ll love the strong CAP rate! Some units have been updated with hardwood floors, granite counter tops, white shaker cabinets, Brazilian tile work, premium fixtures, stainless steel appliances, and crown molding. There is a bonus manager apartment in the lower level (that has the potential to be converted into a full rental unit). Additional Notes: Updated vinyl siding, new garage doors, all units have electric heat and hot water (tenants pay their own electric bill). Association responsible for water, sewer, and trash removal. These are 7 separate condo units being sold as a package. Each unit has its own deed, field card, and tax record. All 7 units must sell as a package.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $118,200 | $11.82 |
Other Income | $2,400 | $0.24 |
Vacancy Loss | - | - |
Effective Gross Income | $120,600 | $12.06 |
Taxes | $9,933 | $0.99 |
Operating Expenses | $11,951 | $1.20 |
Total Expenses | $21,884 | $2.19 |
Net Operating Income | $98,716 | $9.87 |
Financial Summary (Actual - 2024)
Gross Rental Income | |
---|---|
Annual | $118,200 |
Annual Per SF | $11.82 |
Other Income | |
---|---|
Annual | $2,400 |
Annual Per SF | $0.24 |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $120,600 |
Annual Per SF | $12.06 |
Taxes | |
---|---|
Annual | $9,933 |
Annual Per SF | $0.99 |
Operating Expenses | |
---|---|
Annual | $11,951 |
Annual Per SF | $1.20 |
Total Expenses | |
---|---|
Annual | $21,884 |
Annual Per SF | $2.19 |
Net Operating Income | |
---|---|
Annual | $98,716 |
Annual Per SF | $9.87 |
Property Facts
Price | $1,295,900 | Building Class | B |
Price Per Unit | $185,129 | Lot Size | 0.13 AC |
Sale Type | Investment | Building Size | 4,410 SF |
Cap Rate | 7.62% | Average Occupancy | 100% |
No. Units | 7 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 1975 |
Property Subtype | Apartment | Parking Ratio | 1.59/1,000 SF |
Apartment Style | Mid Rise |
Price | $1,295,900 |
Price Per Unit | $185,129 |
Sale Type | Investment |
Cap Rate | 7.62% |
No. Units | 7 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | B |
Lot Size | 0.13 AC |
Building Size | 4,410 SF |
Average Occupancy | 100% |
No. Stories | 3 |
Year Built | 1975 |
Parking Ratio | 1.59/1,000 SF |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 2 | - | - |
1+1 | 4 | - | - |
3+1 | 1 | - | - |
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Walk Score ®
Very Walkable (82)
zoning
Zoning Code | Residential |
Residential |
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