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Multifamily

333 State

Bridgeport, CT

72 Units

Built in 1968

Value Add

Investment Highlights

  • Light remaining Value-Add opportunity. Currently completing light upgrades. Recent new leases exceeding prior rent. All totaled there is over $125,000 in additional gross potential revenue.
  • Outstanding cost basis. 333 State is offered at a fraction of current replacement value. Comparable product in surrounding municipalities, are achieving ±20% - 30% over current in-place average rent.
  • Additional development potential. Originally designed as a 10-story tower, three additional residential levels can be added, as a matter of right, onto the existing structure.

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