335 Wells Street

335 Wells Street | Bridgeport | CT | 06606 Back to Properties


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Overview

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Property Details

  • Price: Unpriced
  • Units: 36
  • Rentable SF: 28,614 SF
  • Site Size: .47 AC
  • Parking: Off-Street
  • Year Built: 1987
  • Exterior: Brick

Property Description

The apartments located at 335 Wells Street, Bridgeport CT is comprised of 36 units (23-one bedroom and 13-two bedroom) totaling 28,614 rentable square feet in two-three story buildings built in 1987 (as per city). Situated on a .47 acre site, there is off-street parking and a laundry facility for the tenants. The property has been heavily updated the past five years, including new roofs on both buildings, a new parking lot, repointing of the exteriors facing the street, new sidewalks, upgrades to the entry lobbies and common areas, and 75% of units rehabbed. The current rent roll is as of the rental notices provided to tenants effective 7-1-22. Assumable agency financing debt in place serviced by Berkadia. Current balance is $3,037,000 at 3.53% interest maturing in October 2030.

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Financial Summary

335 Wells Street

Investment Highlights

Price Unpriced
Units 36
Year Built 1987
Rentable SF 28614
Parking Off-Street
Heat Gas - Owner Pays
Hot Water Gas - Owner Pays
Roof Flat - Rubber
Exterior Brick
Site Size 0.47 Acres

 

Income & Expenses

Income
Potential
Current
Gross Scheduled Rent $ 549,600.00 $ 523,200.00
Less: Vacancy $ 27,480.00 $ 26,160.00
Based On: 5 % est. 5 % est.
Net Rent Income $ 522,120.00 $ 497,040.00
Plus: Other Income $ 5,520.83 $ 5,520.83
Total Operating Income $ 527,640.83 $ 502,560.83

 

Expense
Potential
Current
Real Estate Taxes $ 103,088.60 $ 84,978.86
Insurance $ 42,289.25 $ 42,289.25
Heat/Hot Water $ 10,186.87 $ 10,186.87
Electric (Common) $ 3,571.82 $ 3,571.82
Water & Sewer $ 21,170.92 $ 21,170.92
Trash Collection $ 8,848.36 $ 8,848.36
General & Administrative $ 612.50 $ 612.50
Management Fees $ 21,105.63 $ 20,102.43
Based On: 4% est. 4% est.
Pest Control $ 1,616.52 $ 1,616.52
Maintenance/Repairs $ 21,105.63 $ 20,102.43
Based On: 4% est. 4% est.
Fire Alarm Monitoring $ 1,782.08 $ 1,782.08
Total Expenses $ 235,378.19 $ 215,262.05
Net Operating Income $ 292,262.64 $ 287,298.78

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.

 

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires
147C-1A1/1$1,150$1,200
147C-1B1/1$1,200$1,200
147C-1C2/1$1,300$1,400
147C-1D2/1$1,200$1,400
147C-2A2/1$1,350$1,400
147C-2B2/1$1,400$1,400
147C-2C2/1$1,250$1,400
147C-2D2/1$1,150$1,400
147C-3A2/1$1,300$1,400
147C-3B2/1$1,400$1,400
147C-3C2/1$1,400$1,400
147C-3D2/1$1,300$1,400
335W-011/1$1,200$1,200
335W-021/1$1,100$1,200
335W-031/1$1,200$1,200
335W-041/1$1,200$1,200
335W-051/1$1,150$1,200
335W-061/1$1,000$1,200
335W-071/1$1,150$1,200
335W-081/1$1,150$1,200
335W-091/1$1,150$1,200
335W-101/1$1,000$1,200
335W-111/1$1,200$1,200
335W-121/1$1,200$1,200
335W-131/1$1,200$1,200
335W-141/1$1,200$1,200
335W-151/1$1,200$1,200
335W-162/1$1,400$1,400
335W-171/1$1,100$1,200
335W-182/1$1,200$1,400
335W-191/1$1,200$1,200
335W-201/1$1,200$1,200
335W-211/1$1,100$1,200
335W-221/1$1,200$1,200
335W-231/1$1,200$1,200
335W-242/1$1,300$1,400

Totals

$ 43,600.00

$ 45,800.00

* 0 = Studio under BR

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.