385 Park Avenue, Bridgeport, CT 06604
Welcome to 385 Park Ave; forget house, this is the ideal business opportunity. Legal 4-8 unit multifamily w/ living space across three floors; side by side units. Close to Bridgeport University, rent comes easy as the property is a short walk to campus for students with many bedrooms available. The first floor features side by side apartments w/ four bedrooms, a Kitchen and full bath each. Access to the basement as well. The second and third floor apartments are also side x side, but a bit larger duplex style; consisting of the second and third floor, each apartment has 2 full baths, Kitchen and 8 rooms being occupied as bedrooms. Apartments are railroad design. Bedrooms are decent sizes, about 12x12 sq ft on average. This cash cow is currently netting over $90k NET profit/year at only 70% capacity with potential to bring in closer to $120k/year. Recent upgrades include Architectural gable roof, 4 furnaces, insulation, plumbing, electrical panels and 5 meters. The 3rd floor is recently painted/tiled. Besides the University, this home is minutes away from downtown, beach, and I95. Very attractive and competitive CAP rate north of 15% at list price - don't miss out on this opportunity!