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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
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 - -
Walk Score ®
Very Walkable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code Residential
Residential
  • Listing ID: 34310891

  • Date on Market: 12/28/2024

  • Last Updated:

  • Address: 70 Weber AVE, Bridgeport, CT 06610

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