832 Atlantic Street

National Multifamily is pleased to have sold 832 Atlantic Street, a 16-unit multifamily property located in Bridgeport, CT.

Property

The property was comprised of 16 units (10 oversized one bedrooms and 6 two bedrooms) totaling 11,872 rentable square feet in one-four story building overlooking the Long Island Sound.  The property was built in 1981 and over $110,000 in capital improvements have been completed over the last few years.  The property sits on a 0.18-acre site and had a covered off-street parking lot with 12 spaces.  There was a laundry room on the first floor of the complex.  Tenants paid for the heat and hot water through individual electric systems.

Strategy

The owner of the property had reached out to Matt Cawley of National Multifamily to sell the property and bring in the professional marketing of a seasoned commercial real estate broker.  With a new look of marketing including professional photography and videography, traction began to build for the property.  At the end of the marketing process a decision was made to complete a final call for offers.

Result

Over the 14 day call for offers period, 10 offers were received from top bidding groups in the area.  Ownership reviewed all the offers available and executed one with a closing timeframe in mind. The results of the successful deal included:

1) The offer price was the closing price with no renegotiation

2) A financing process completed in tandem with the buyer’s bank to complete the successful sale

3) The sale correlated to a closing cap rate of 7.95% as of June 2026 and a projected 7.79% cap rate when factoring in the estimated increase in taxes as of July 1, 2026

4) Across 39 multifamily and mixed-use sales since 2022 in the 06604-zip code for Bridgeport, the transaction comes in as a top 5 sale for both price per unit ($150,000) and price per SF ($202.16)

Matt Cawley, Olivia Friedberg, and Michael Hewes of National Multifamily represented the seller and directly procured the buyer.  The deal closed on June 25th, 2026. Contact Matt Cawley for a full setup at closing.