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.