Horvath & Tremblay completes the sale of 33 multi-family units in Bridgeport, CT for $6.275 million

Bridgeport, CT Stavros Filippidis of Horvath & Tremblay has completed the sale of 33 multi-family units totaling $6.275 million.

Filippidis has arranged the sale of a 27 unit multi-family portfolio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $5.35 million. The multi-family investment portfolio is located at 651-657 Maple St., 85-87 Caroline St., and 103-109 Caroline St. The Portfolio contains six three-bedroom/one-bathroom units, six two-bedroom/one-bathroom units, and 15 one-bedroom/one-bathroom units with a total of 23,523 s/f of gross living area in 32,806 s/f of gross area. The portfolio is spread across a total of 0.34-acres of land and features on-street parking. The portfolio is strategically positioned within the city’s established residential corridor, offering access to the city’s major employment centers, neighborhood retail amenities, and regional transportation infrastructure. Located just minutes from downtown, the properties benefit from strong connectivity to I-95 via nearby exits 27 and 28, as well as direct access to Rte. 8/Rte. 25, providing efficient north-south travel throughout Fairfield County and convenient access to surrounding markets including Stamford, New Haven, and the greater New York metropolitan area.

Horvath & Tremblay’s Filippidis also arranged the sale of a six unit multi-family property. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $925,000. The multi-family property is located at 245-247 Madison Ave. The two-story building contains two five-bedroom/one-bathroom units, one three-bedroom/1.5-bathroom unit, two two-bedroom/one-bathroom units, and one one-bedroom/one-bathroom unit in 7,846 s/f of gross living area in 11,185 s/f of gross area. The property is situated upon a 0.19-acre parcel and features off-street parking via two garages on-site. In-place rents are significantly below the current market rates; the opportunity exists to continue to upgrade unit interiors and common areas to drive rental rates in an urban-infill, high demand residential market. Additional income can be generated through lease-up of the two private garage bays that were delivered vacant. 245–247 Madison Ave. is well-positioned within Bridgeport, offering strong access to the city’s downtown core, neighborhood retail corridors, and surrounding residential neighborhoods. The property benefits from connectivity to major local thoroughfares including Main St. and Park Ave., as well as close proximity to I-95 and Rte. 8, providing efficient regional access throughout Connecticut and into the broader Northeast corridor.