635-637 W 26th Street

Exceptional mixed-use investment opportunity in the heart of Bridgeport offering approximately 7,012 square feet of combined space- 4530 of an above ground level finished space and 2482 SQ ft of an unfinished tall basement. The property consists of 3 spacious residential units, including two 3-bedroom apartments and one 2-bedroom apartment, along with 1 retail commercial storefront. All units are fully occupied. The residential apartments are nicely updated and feature hard surface flooring, white trim and molding, high ceilings, updated kitchens with granite countertops, two units with stainless steel appliances, in-unit laundry rooms, ceiling fans, and individual central HVAC. The commercial space includes a new front window and recenlty replaced heating system. Current total monthly rental income is $6,991. Residential tenants pay their own gas and electric, while the owner is responsible for water, sewer, and common area lighting. Utilities are separately metered for gas and electric for each unit and tenants pay their own. Recent B1-2 mixed use zoning allowing bringing profitable commercial tenants or your own business. Adjacent unit next door can be convereted to commercial. Rents are near current market rates with potential for future increases. The commercial lease includes an escalation clause upon renewal. Additional improvements include a newer roof, newer porch, 4 newer hot water tanks, cement flooring in the full walkout basement, crisp basement ceiling/main floor floorboards and central heat and air conditioning in all residential units. The basement provides significant storage and potential value-add/expansion opportunities Small fenced grassy area in back. The building is situated on a desirable corner lot on a low-traffic retail street surrounded by newer construction. The location offers convenient access to public transportation, shopping, dining, parks, and major thoroughfares. Palmisano Park is located nearby, and the property provides quick access to downtown while maintaining a neighborhood setting. Bridgeport is known for its strong community presence, local dining establishments, cultural events, and proximity to Guaranteed Rate Field.The seller's lender may be able to offer an assumable FHA mortgage for qualified buyers at a 2.25 interest rate. Great CAP rate for savyy investors. First floor units can be combined into large commercial space of approx 2158 SQ ft to accommodate a larger business in this prime location.