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233 Alex St, Bridgeport, CT 06607

7 Bedrooms / 3 Baths / Multiple Family

Property Status: Available |  For Sale: $385,000.00



Bridgeport 3 family - Cashflowing 3 family, completely renovated in 2017.


Property Details:
Property Style:
Tri-Plex
Finished Sq. Ft:
2,895
Garage:
1 Car Detached
Basement:
Unfinished Basement
Owner/Agent:
Owner / Agent
Cash flowing 3 family completely renovated in 2017. Property is fully rented with long term tenants. Property has a 1 car detached garage and a driveway. All units have separate utilities (gas/electric meters). Has a large open unfinished basement for storage and future laundry units if needed.


Pictures: https://mega.nz/folder/9XdD2CCT#6E2RdqlW3X9G2lic6XtVJA/folder/oTs0RC7R
1st Fl virtual tour: https://m.youtube.com/shorts/WoRYXB0Shu0
3rd Fl virtual tour: https://m.youtube.com/watch?v=zR9vMK8Eme0


Renovations include:
- Full electrical throughout replaced to current NEC and building codes
- New plumbing
- 3 new Navien high efficiency boilers with instant hot water
- New windows
- New laminate flooring in some areas
- Refinished hardwood floors in some areas
- Bathrooms x3
- Kitchens x3
- New appliances (stove/ovens, refrigerators, microwaves)
- Repaired detached garage
- Paint
- Miscellaneous cosmetic and repairs.


Rent roll: $3800 per month total ($45,600 yearly)
- 1st Fl: $1450
- 2nd Fl: $1300
- 3rd Fl: $1050
100% rented, no current vacancies

Expenses:
- Tax: $736.30/month ($8835.56/year for 2021)
- Insurance: $312.75/month ($3753/year for current policy)
- Water: $138.20/month ($1658.40 for 2021 payments)
- WPCA: $114/month ($1368 for 2021 payments)
- House electric: $86.93/month ($1043.21 for 2021 payments)


Yearly NOI: $28,941.83

7.5 CAP Rate at $385,000 purchase



COMPS

582-584 Connecticut Avenue, Bridgeport, CT 06607
Distance from subject property: 0.5 miles
3 family – 2/1 – 2/1 – 2/1 – (6/3 total)
Living SF: 2788 sf
Closed: 07/14/2022 List Price: $429,000 Closed Price: $426,000
Active to Under Contract: 5 days
Notes: Similar size, renovations, and condition as subject property. This property is on a busier street than the subject property.


493-495 Carroll Avenue, Bridgeport, CT 06607
Distance from subject property: 0.3 miles
3 family – 2/1 – 2/1 – 2/1 – (6/3 total)
Living SF: 2465 sf
Closed: 11/02/2021 List Price: $399,900 Closed Price: $400,000
Active to Under Contract: 2 days
Notes: Similar size, renovations, and condition as subject property


273-277 Wilmot Avenue, Bridgeport, CT 06607
Distance from subject property: 0.2 miles
3 family – 3/1 – 2/1 – 2/1 – (7/3 total)
Living SF: 3476 sf
Closed: 07/30/2021 List Price: $350,000 Closed Price: $400,000
Active to Under Contract: 10 days
Notes: Similar size, not as renovated as subject property.

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