Richard Olivers Acquires Bridgeport Multifamily For $5.35M
SOLD
$5,350,000
+ 2
Connecticut
See Similar DealsMultiFamily23,600 SF
Sold 09/23/2022
SOLD
Richard Olivers Acquires Bridgeport Multifamily For $5.35M
145 Cowles Street
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
The multifamily property located at 145 Cowles St & 85-87 Union Ave in Bridgeport, CT has been sold. The transaction was completed on September 23, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,350,000
- Units: 47
- Price per Unit: $72,297
- Total Square Footage: 23,600
- Price per Square Foot: $227
- Market: Bridgeport, CT
The buyer of the property is Richard Olivers, while the seller is the DaSilva Family. The deal was facilitated by the brokerage team of Kevin Scrima, Michael Scrima, and Thomas Gorman, Jr. from 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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