690-692 Dewey StBridgeport, CT 06605

Property Details for 690-692 Dewey St

Year built

1900

Property size (Sq ft)

3,379 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional two-unit multifamily property in Bridgeport, CT, presents a compelling investment opportunity. The 3,379 square foot building, constructed in 1900 and extensively renovated in 2020, boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $30,775, representing a 4.81% cap rate. Each unit, priced at $320,000, features three levels of updated living space, including central air conditioning and luxury vinyl plank flooring. Modern kitchens with recessed lighting and ample closet space enhance the appeal. The first-floor unit offers three bedrooms and one bathroom, while the second-floor unit includes two additional bedrooms in the attic and a second full bathroom. Convenient basement laundry facilities and six off-street parking spaces, including a detached garage, add significant value. The property is zoned RC and situated in a desirable location minutes from the Fairfield/Bridgeport line, ensuring high tenant demand. This turnkey investment offers immediate income and long-term growth potential, making it an ideal addition to any portfolio. The property's strong financials, coupled with its recent renovations and prime location, make it a rare find in the current market. This is a truly exceptional opportunity for discerning investors seeking a stable and profitable investment.

Location Insight

City

Bridgeport

County

Fairfield

State

Connecticut

Latitude

41.1767

Longitude

-73.218

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