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305 Parrott Ave
Bridgeport, CT 06606
Multifamily Property For Sale
·
16 Units
Executive Summary
Baldwin Pearson & Co., Inc. is pleased to exclusively present 305 Parrott Avenue, a rare multifamily offering in one of Connecticut's most dynamic real estate markets. This corner brick building commands a highly visible presence at the intersection of heavily trafficked Capitol Avenue and Parrott Avenue in Bridgeport's North End, comprising 16 residential units, 13 one-bedroom apartments and 3 studios. The unit mix is perfect for today's rental market where smaller unit demand continues to outpace supply. With strong day-one returns already in place and multiple pathways to grow the rent roll, including strategic lease-up at market rents, targeted interior upgrades, and operational efficiencies, 305 Parrott Avenue represents an outstanding opportunity with genuine value-add upside in a market supported by major employment anchors and limited new supply.
Property Facts Under Contract
| Price Per Unit | $143,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 7.55% | Building Size | 9,400 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1941 |
| Apartment Style | Mid-Rise | ||
| Zoning | RC - Residential Community | ||
| Price Per Unit | $143,750 |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1941 |
| Zoning | RC - Residential Community |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 500 |
Property Taxes
| Parcel Number | BRID-002140-000005 | Improvements Assessment | $462,250 |
| Land Assessment | $230,850 | Total Assessment | $693,100 |
Property Taxes
Parcel Number
BRID-002140-000005
Land Assessment
$230,850
Improvements Assessment
$462,250
Total Assessment
$693,100
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