1795 NORTH AVE BRIDGEPORT CT 06604
Brick North End Bridgeport 15 Unit Apartment Building
Marketing description
Baldwin Pearson & Co., Inc. is pleased to exclusively present 1795 North Avenue, a rare multifamily offering in one of Connecticut's most dynamic real estate markets. This corner brick building commands a highly visible presence at the intersection of heavily trafficked Park Avenue and North Avenue in Bridgeport's North End, featuring 15 residential units comprised of 14 one-bedroom apartments and 1 studio. The unit mix is perfect for today's rental market where smaller unit demand continues to outpace supply. With strong day-one returns already in place, no deferred maintenance, extensive interior and exterior upgrades, and completely separately metered utilities, 1794 North Avenue represents an outstanding opportunity to acquire a highly occupied multifamily asset in excellent condition in a market supported by major employment anchors and limited new supply.
Investment highlights
- Strong Unit Composition: Fifteen residential units consisting of fourteen one-bedroom apartments and one studio apartment, a unit mix well-positioned to capitalize on sustained demand for attainable rental housing.
- Separately Metered Utilities: Individually metered units provide operational efficiency and reduced landlord expense exposure.
- Updated Mechanicals & High Occupancy: The building is equipped with a new high-efficiency gas furnace, the majority of units have been upgraded, and the property has maintained 100% occupancy, a strong indicator of stable rental demand.
- Prime Location Near Major Employers & Amenities: The property is situated in the coveted North End, with easy access to highways, shopping, restaurants, and downtown, making it desirable to a variety of tenant profiles.
- Significant Recent Capital Improvements: Ownership has recently invested substantial capital into both interior and exterior renovations, including apartment upgrades, common area enhancements, exterior cosmetic improvements, and roofing work.
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