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Key Details
Sold Price $530,000
Property Type Multi-Family
Sub Type 3 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,424 sqft
Price per Sqft $97
MLS Listing ID 170619796
Sold Date 04/30/24
Style Units on different Floors,3updown - Unit(s) per Floor
Bedrooms 10
Full Baths 3
Half Baths 1
Year Built 1917
Annual Tax Amount $8,601
Lot Size 4,791 Sqft
Property Sub-Type 3 Family
Property Description
MUST SEE! Great Income-Generating Investment Opportunity! Discover the potential of this exceptional property which comprises two substantial buildings on a double lot (single parcel)—a spacious three-family residence with 5,016 total SF including 3,632 above grade and a detached commercial storefront with a three-car garage totaling 1,792 SF above grade. The three-family building underwent total reconstruction in 2009, featuring new windows, roof, and interior fixtures. Recent upgrades include the installation of 2 new hot water heaters. The commercial store has gone through complete reconstruction and renovation including, roof, electric (220V). Permits available and recorded at Bridgeport building department. Three Family Building Layout: First and Third Floor: Three bedrooms and one bath each Second Floor: Four bedrooms and one bath This property offers a diverse set of rental spaces, contributing to its impressive income potential. The current rent roll is as follows: 1st Floor: $1500/month - Vacant as of February 1st, 2024 2nd Floor: $1600/month - Rented 3rd Floor: $1400/month - Rented Three Garages: $450/month - Vacant Commercial Storefront: $1,350/month - Rented The total gross market monthly rent is an impressive $6,300, making this investment a substantial income generator. With an 80% Loan-to-Value loan, this property offers an exceptional cash-on-cash return of 35% or more. Act now to capitalize on this substantial cash cow investment!
Location
State CT
County Fairfield
Zoning RC
Rooms
Basement Full, Full With Hatchway, Unfinished
Interior
Heating Baseboard
Cooling None
Exterior
Exterior Feature Gutters, Porch
Parking Features Detached Garage, Paved, Off Street Parking
Garage Spaces 3.0
Waterfront Description Beach,Beach Rights
Roof Type Asphalt Shingle
Building
Lot Description City Views, Level Lot
Foundation Block
Sewer Public Sewer Connected
Water Public Water Connected
Schools
Elementary Schools Per Board Of Ed
Middle Schools Per Board Of Ed
High Schools Per Board Of Ed
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Bought with Bobby Toth • American Home Realty LLC