217 Hollister Ave - Apartments FOR SALE


Bridgeport, CT 06607- East End
$3,275,000 USD
203-692-2420
217 Hollister Ave, Bridgeport, CT for Sale
$3,275,000 USD
Apartments - FOR SALE
1/14
null | 6.18% Cap Rate

217 Hollister Ave
Bridgeport, CT 06607
East End


HIGHLIGHTS

  • Twenty-Five (25) 1-bedroom/1-bath apartments | 100% Market Rate
  • 1970 Brick Construction
  • Tenant Paid Electric Heat and Hot Water
  • Majority of Apartments Have Been Renovated During the Current Ownership
  • Ample Off-Street Parking, On-Site Laundry Facility
  • Current Rents Sit 30% Below Market

OVERVIEW

Northeast Private Client Group is pleased to exclusively present for sale 217 Hollister Avenue, a twenty-five (25) unit apartment building located at 217 Hollister Avenue, Bridgeport CT 06607. Constructed in 1970, the property consists of twenty-five (25) free market 1BR/1BA apartments across 16,030 sf of living area atop 0.36 acres in the East End neighborhood of Bridgeport CT. The property features tenant paid utilities, ample off-street parking including four covered spaces, and an on-site laundry facility. 217 Hollister Avenue provides investors with the opportunity to immediately implement a proven value-add strategy that’s already been executed on several comparable buildings within the Bridgeport market. Currently, rents sit 30% below market with an average rent of $1,090/month while market comparables prove that a new owner can achieve an average market rent of $1,550+ with light apartment renovations and a more aggressive leasing strategy.

FOR SALE DETAILS

PRICE

$3,275,000 USD

PRICE/SF

$218 USD /SF

# OF UNITS

25

PRICE/UNIT

$131,000

CAP RATE

6.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hollister Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,799 SF

ZONING

N/A

APN/PARCEL ID

BRID-000654-000007A

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.