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Bridgeport Commons Apartments Sold For $9.9M With Representation By NorthEast Private Client Group
SOLD
$9,900,000
Connecticut
See Similar DealsMultiFamily
Sold 11/01/2024
SOLD
Bridgeport Commons Apartments Sold For $9.9M With Representation By NorthEast Private Client Group
1525 Central Avenue
See Similar DealsMultiFamily
Sold 11/01/2024
Summary
CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property, Bridgeport Commons Apartments, was sold for $9.9 million. The asset comprises 86 units located at 1525 Central Avenue in Bridgeport, CT. The property features a mix of studios, one-bedroom, and two-bedroom units, and is situated near Bridgeport Hospital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,900,000
- Units: 86
- Price Per Unit: $115,116
- Sale Date: 11/01/2024
- Market: Bridgeport, CT
The sale was facilitated by brokers Bradley Balletto, Richard Edwards, and Robert Paterno from NorthEast Private Client Group. Both the buyer and seller in this transaction opted to remain anonymous.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$528,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61
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