Richard Olivers Acquires Multifamily Property In Bridgeport, CT For $5.35M
SOLD
$5,350,000
+ 2
Connecticut
See Similar DealsMultiFamily23,600 SF
Sold 09/23/2022
SOLD
Richard Olivers Acquires Multifamily Property In Bridgeport, CT For $5.35M
145 Cowles Street, Bridgeport, Connecticut 06607, United States
See Similar DealsMultiFamily23,600 SF
Sold 09/23/2022
+ 2
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$226
Total Square Footage:23,600 SF
Transaction Type:Sale
A multifamily property located at 145 Cowles St & 85-87 Union Ave in Bridgeport, CT, has been sold for $5,350,000. The property consists of 47 units with an average price per unit of $113,829. It spans across 23,600 square feet, resulting in a price per square foot of $227.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,350,000
- Address: 145 Cowles St & 85-87 Union Ave, Bridgeport, CT
- Market: Bridgeport, CT
The buyer of the property is Richard Olivers, while the seller is the DaSilva Family. The transaction was facilitated by Kevin Scrima, Michael Scrima, and Thomas Gorman, Jr. of Redwood Realty Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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