Buy & Hold (Mixed Use Commercial): (8 Units) 483, 487, 489 Barnum Ave, Bridgeport, CT 06608 + $1,175,000
- Promise Land Realty
- May 2
- 2 min read
Price
$1,175,000
OFF-MARKET VALUE-ADD OPPORTUNITY – BRIDGEPORT, CT
483, 487 & 489 Barnum Avenue | Asking: $1,175,000
(Seller Motivated – Price Flexible)
📩 All offers/inquiries: investments@promiselandrealtyllc.com
Team Promiseland presents a rare mixed-use investment in the heart of Bridgeport, CT. This large brick corner buildingfeatures four spacious 3-bedroom residential units, two income-producing storefronts, a 600 SF garage, and an additional industrial parcel at 489 Barnum Ave. Utilities are separately metered, offering ease of management and strong long-term value.
🔑 Deal Snapshot:
Address: 483, 487 & 489 Barnum Ave, Bridgeport CT
Total Residential Units: 4 (All 3-Bedroom)
Commercial Units: 2 Retail Storefronts (1,150/mo each)
Bonus Parcel: 489 Barnum Ave – Industrial Garage/Shop bringing in $1,000/month
Garage Space: 600 SF
Parcel Flexibility: Seller willing to sell 483–487 Barnum without 489 Barnum
Utilities: Separately metered for each unit
💰 Financial Highlights:
Gross Scheduled Income: $115,200/year
Adjusted Gross Income (5% Vacancy): $109,440/year
Total Operating Expenses: $48,180/year
Net Operating Income (NOI): $61,260/year
Cap Rate: 5.21%
🚨 Seller is Motivated – Bring Offers!The price is flexible for serious buyers. Seller is ready to move, offering an excellent opportunity to negotiate value and capitalize on upside.
🚀 Key Value Drivers:
Undermarket rent on one unit (3BR @ $1,000/mo)
Corner property with solid tenant mix
Add value through minor improvements or rent stabilization
Industrial parcel can be upgraded or resold
📍 Ideal Buyer Profile: East Coast (CT/NY/NJ) investors seeking a stabilized, multi-use asset with cash flow, development flexibility, and future upside. Perfect for those seeking strong yield in a growing urban market.
📩 Submit All Offers To:investments@promiselandrealtyllc.com Proof of funds may be required. Showings coordinated upon accepted offers or strong interest.
TEAM PROMISELAND DISCLAIMER:This listing is distributed by TEAM PROMISELAND. Redistribution, marketing, or sharing of this opportunity without written consent or verified membership is strictly prohibited and subject to a $500 infringement penalty. Join the movement. Respect the circle.™
Aerial View
Property Map
"Your #1 Source for Off Market Investment Properties, NATIONWIDE"
PROMISE LAND REALTY LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.
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