616 Kossuth Street, Bridgeport, CT 06608 - MLS 170080343 | Berkshire Hathaway HomeServices New England Properties
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  • 616 Kossuth Street, Bridgeport, CT 06608
  • $450,000
  • 12 BedroomBedrooms
  • 6 BathroomBathrooms
  • 6 Full BathroomFull Bathrooms
  • 0 Half BathroomHalf Bathrooms
  • 7,668 Sqft
  • Sold On

616 Kossuth Street, Bridgeport, CT 06608

  • Open House
  • New Listing
  • 12 BedroomBedrooms
  • 6 BathroomBathrooms
  • 7,668 Sqft
  • Multi Family
  • Active
  • MLS# 170080343
  • Sold On
0 More Schedule
  • Price Reduced

Property Information

  • MLS170080343
  • Zip Code06608
  • TypeMulti Family
  • Bedrooms12
  • Bathrooms6
  • Full Bathrooms6
  • Half Bathrooms0
  • Sq. Ft.7, 668
  • BasementConcrete Floor, Unfinished
  • Exterior FeaturesBalcony
  • Parking On Street Parking
  • Parking0
  • Garage Space0
  • HeatingHot Air
  • CoolingNone
  • WaterPublic Water Connected
  • SewerPublic Sewer Connected
  • Year Built1869
  • Acreage.19
  • High SchoolPer Board of Ed
  • Estimated Taxes$14, 475
  • Assessment$266, 230

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

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About Bridgeport, CT

Founded in 1821 on the scenic shores of Long Island Sound, Bridgeport is one of the oldest urban communities in North America as well as Connecticut's largest manufacturing city.

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Listing courtesy of: John Zervos, DVB Commercial Realty LLC © 2019 Smart Multiple Listing Service Inc. All Rights Reserved.