24 Unit New Construction Bridgeport Portfolio

285 Golden Hill Street | Bridgeport | CT | 06604 Back to Properties

1208 Broad Street | Bridgeport | CT | 06604


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Overview

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Property Details

  • Price: Unpriced
  • Units: 24
  • Rentable SF: 18,480 SF
  • Site Size: .33 AC
  • Parking: Street
  • Year Built: 2013
  • Exterior: Stucco

Property Description

The apartment portfolio located at 285 Golden Hill Street and 1208 Broad Street, Bridgeport CT is comprised of 24 oversized studio units totaling 18,480 rentable square feet in two-three story buildings built in 2014 and 2013 respectively.  The properties are one-block away from each other, situated on 0.33 acres collectively, and have full basements with tenant storage.  Tenants pay for their own heat and hot water through a mixed system using electric baseboard and electric heat pumps.  The new construction properties sit on a hill overlooking Downtown Bridgeport. The current rent roll is as of the rental notices provided to tenants effective 7-1-22.

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Financial Summary

24 Unit New Construction Bridgeport Portfolio

Investment Highlights

Price Unpriced
Units 24
Year Built 2013
Rentable SF 18480
Parking Street
Heat Electric - Tenants Pay
Hot Water Electric - Tenants Pay
Roof Flat - Rubber
Exterior Stucco
Site Size 0.33 Acres

 

Income & Expenses

Income
Potential
Current
Gross Scheduled Rent $ 388,800.00 $ 362,400.00
Less: Vacancy $ 7,776.00 $ 7,248.00
Based On: 2 % est. 2 % est.
Net Rent Income $ 381,024.00 $ 355,152.00
Plus: Other Income $ 1,267.50 $ 1,267.50
Total Operating Income $ 382,291.50 $ 356,419.50

 

Expense
Potential
Current
Real Estate Taxes $ 92,800.30 $ 86,452.91
Insurance $ 14,494.00 $ 14,494.00
Electric (Common) $ 6,812.17 $ 6,812.17
Water & Sewer $ 9,329.20 $ 9,329.20
General & Administrative $ 1,205.00 $ 1,205.00
Management Fees $ 15,291.66 $ 14,256.78
Based On: 4% est. 4% est.
Pest Control $ 632.79 $ 632.79
Maintenance/Repairs $ 11,468.75 $ 10,692.59
Based On: 3% est. 3% est.
Fire Alarm Monitoring $ 4,367.44 $ 4,367.44
Total Expenses $ 156,401.31 $ 148,242.88
Net Operating Income $ 225,890.20 $ 208,176.63

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
285 - 1010/1$1,250$1,350
285 - 1020/1$1,250$1,350
285 - 1030/1$1,250$1,350
285 - 1040/1$1,250$1,350
285 - 2010/1$1,250$1,350
285 - 2020/1$1,250$1,350
285 - 2030/1$1,250$1,350
285 - 2040/1$1,250$1,350
285 - 3010/1$1,250$1,350
285 - 3020/1$1,250$1,350
285 - 3030/1$1,300$1,350
285 - 3040/1$1,250$1,350
1208 - 1010/1$1,250$1,350
1208 - 1020/1$1,250$1,350
1208 - 1030/1$1,250$1,350
1208 - 1040/1$1,300$1,350
1208 - 2010/1$1,300$1,350
1208 - 2020/1$1,250$1,350
1208 - 2030/1$1,250$1,350
1208 - 2040/1$1,250$1,350
1208 - 3010/1$1,250$1,350
1208 - 3020/1$1,300$1,350
1208 - 3030/1$1,250$1,350
1208 - 3040/1$1,250$1,350

Totals

$ 30,200.00

$ 32,400.00

* 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.