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616 Kossuth St, Bridgeport, 06608

Multi-Family - 5 Family+ For Sale

$450,000

12Beds
6Baths
7,668Sqft
.19Acres
1869Built
350DOM
MLS® #: 170080343
Active, 350 Days on Market

8 Unit apartment building facing Washington Park. Two (3) bedroom apartments, Four (2) bedroom apartments and Two (1) bedroom apartments. The property is uninhabited and will need work. There are some refrigerators and stoves missing from the property. New paint and carpeting will be required for each apartment unit. And eight 8 A/C units were stolen.The exterior siding will need repairs. There is a mortgage of $470,000. and a loan from the City of Bridgeport for $378,000 that is forgiven in 2026. This needs to be an "ALL CASH " Sale The second mortgage will not be paid off. If the landlord continues to rent the apartments under the HUD guidelines the mortgage will be forgiven in 8 years. No principal or interest payments required. The HUD rent guide lines are as follows: Regarding the rental income, HOME requires that 20% of the units are to be low home and the balance high . The 2017 rent limits for HOME are below. This means that this is the highest amount of rent they could charge. At the same time making sure the household fits into the income qualifications. If the tenant pays the utilities directly then the landlord would be responsible for paying a utility allowance. 1 BR 2 BR 3 BR LOW HOME RENT LIMIT 860 1,032 1,192 HIGH HOME RENT LIMIT 990 1,243 1,572

Essential Information

MLS® #: 170080343
Price: $450,000
Bedrooms: 12
Bathrooms: 6.00
Full Baths: 6
Square Footage: 7,668
Acres: 0.19
Year Built: 1869
Type: Multi-Family
Sub-Type: 5 Family+
Status: Active

Community Information

Address: 616 Kossuth St
Area: East Side
City: Bridgeport
County: Fairfield
State: CT
Zip Code: 06608

Amenities

Parking: On Street Parking
Garages: On Street Parking
Waterfront: Not Applicable

Interior

Heating: Hot Air, Natural Gas
Cooling: None

Exterior

Exterior: Wood, Clapboard
Exterior Features: Balcony
Lot Description: N/A
Roof: Asphalt Shingle
Construction: Frame
Foundation: Block

School Information

Elementary: Per Board of Ed
High: Per Board of Ed

Additional Information

Date Listed: May 4th, 2018
Days on Market: 350
Zoning: RB

Listing Details

Listing Office: DVB Commercial Realty LLC

Financials

$/SqFt: $59

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©2019 Listings courtesy of the Connecticut Multiple Listing Service, Inc.

IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing data is deemed reliable but is not guaranteed accurate by the MLS.