Connecticut Realty Trust Acquires Multifamily Asset In Bridgeport, CT For $3.85M
SOLD
$3,850,000
Connecticut
See Similar DealsMultiFamily22,410 SF
Sold 10/05/2020
SOLD
Connecticut Realty Trust Acquires Multifamily Asset In Bridgeport, CT For $3.85M
335 Wells Street, Bridgeport, CT, USA
See Similar DealsMultiFamily22,410 SF
Sold 10/05/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$171
Total Square Footage:22,410 SF
Transaction Type:Sale
An multifamily property located at 335 Wells Street & 147 Charles Street in Bridgeport, CT has been sold for a price of $3,850,000. The property consists of 36 units, resulting in a price per unit of $106,944. The sale took place on 10/05/2020 and the property boasted a cap rate of 6.72%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,850,000
- Units: 36
- Price per Unit: $106,944
- CAP Rate: 6.72%
The seller of the property was All Star Property Management, while the buyer was Connecticut Realty Trust. The deal was facilitated by Brad Balletto, Rich Edwards, Jeff Wright, and Bob Paterno from Northeast Private Client Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$205,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,678.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,250.96
Annual Debt Service$219,011.57
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