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305 Parrott Ave 16 Unit Apartment Building $3,175,518 CAD ($198,470 CAD/Unit) 7.55% Cap Rate Bridgeport, CT 06606
Investment Highlights
- Solid brick corner property
- Updated mechanicals and 100% occupancy
- Prime Bridgeport location close to all major attractions
- Value Add opportunity with the majority of the rents below current market value
- Excellent unit mix of one bedroom (13) and studio (3)apartments in very high demand in the Bridgeport rental market
Executive Summary
Baldwin Pearson & Co., Inc. is pleased to exclusively present 305 Parrott 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 Capitol Avenue and Parrott Avenue in Bridgeport's North End, comprising 16 residential units, 13 one-bedroom apartments and 3 studios. 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 and multiple pathways to grow the rent roll, including strategic lease-up at market rents, targeted interior upgrades, and operational efficiencies, 305 Parrott Avenue represents an outstanding opportunity with genuine value-add upside in a market supported by major employment anchors and limited new supply.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$451,476
|
$48.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$13,544
|
$1.44
|
| Effective Gross Income |
$437,932
|
$46.59
|
| Taxes |
$46,600
|
$4.96
|
| Operating Expenses |
$61,245
|
$6.52
|
| Total Expenses |
$107,845
|
$11.47
|
| Net Operating Income |
$330,087
|
$35.12
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $451,476 |
| Annual Per SF | $48.03 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $13,544 |
| Annual Per SF | $1.44 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $437,932 |
| Annual Per SF | $46.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $46,600 |
| Annual Per SF | $4.96 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $61,245 |
| Annual Per SF | $6.52 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $107,845 |
| Annual Per SF | $11.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $330,087 |
| Annual Per SF | $35.12 |
Property Facts
| Price | $3,175,518 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $198,470 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 7.55% | Building Size | 9,400 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1941 |
| Zoning | RC | ||
| Price | $3,175,518 CAD |
| Price Per Unit | $198,470 CAD |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1941 |
| Zoning | RC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 500 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | BRID-002140-000005 | Total Assessment | $956,935 CAD (2025) |
| Land Assessment | $318,725 CAD (2025) | Annual Taxes | $46,600 CAD ($4.96 CAD/SF) |
| Improvements Assessment | $638,210 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
BRID-002140-000005
Land Assessment
$318,725 CAD (2025)
Improvements Assessment
$638,210 CAD (2025)
Total Assessment
$956,935 CAD (2025)
Annual Taxes
$46,600 CAD ($4.96 CAD/SF)
Tax Year
2026
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305 Parrott Ave
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