Bridgeport 187 Portfolio

Bridgeport, CT, Bridgeport, CT 06601

  • For Sale $30,180,000
  • Property Type Multi-Family
  • Property Size 149,240 SF
  • Units 187
  • Lot Size 5.62 Acre
  • Additional Rent Contact for pricing
  • Date Updated Aug 10, 2024
Bridgeport is conveniently located at the confluence of Interstate 95, Route 5-15/Merritt Parkway & Connecticut Route 8, providing ease of access to Employment Centers of New Haven, Shelton, Norwalk, and Stamford and a diversity of employment sectors: health care, life science, financial services, education, aerospace, logistics, and advanced manufacturing. The Bridgeport Metro-North train station, which will take commuters to Norwalk in ±30 minutes; Stamford in ±35 minutes, and Grand Central Station in NYC in ±87 minutes is located in downtown Bridgeport, just a few minutes’ drive from the properties in the portfolio.Northeast Private Client group is pleased to present Bridgeport 187, a 187-unit, 100% market-rate apartment portfolio in Bridgeport, Connecticut. Constructed between 1952 and 1990, the portfolio includes six properties on a total of 5.62 acres. The properties are strategically located throughout Bridgeport, Connecticut, and feature immediate access to local shopping and transportation with ease of access to downtown Bridgeport, and easily commutable to major area employment drivers in New Haven, Stratford, Shelton, and Lower Fairfield County. Additional demand drivers include several Universities and two Hospitals, a Metro North train Station, M&T Bank Headquarters, a deep-water port, and a ferry to Port Jefferson in Long Island. Current ownership has maintained and continually upgraded the properties with significant capital projects including exterior enhancements to elevate curb appeal, such as new parking lots, many new roofs, new siding, new landscaping, along with continued unit upgrades to at least 145 units including updates to kitchens, bathrooms, flooring, and lighting. Additionally, they have proven the ability to add significant value through improved operational focus by setting new high rents at all properties, leaving a new owner the opportunity to harvest loss-to lease in under-rented units. Bridgeport 187, with an in-place capitalization rate of over 6.5% provides for immediate strong, stable cash flow with significant upside that can be captured in the near-term. This is an attractive opportunity to acquire a well-located value-add, workforce, multifamily housing portfolio with immediate scale. Bridgeport, Connecticut has one of the tightest occupancy rates in the state, with the submarket vacancy rate currently at 3.9%.

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Highlights

  • 100% Market Rate
  • Value-Add Opportunity
  • 100 Units are Two, Three, or Four Bedroom Floorplans
  • 83 Units are Two-Story Townhomes
  • Significant Recent Capital Expenditures
  • Compelling Entry Pricing
  • Exceptional Submarket Fundamentals
  • Prime Commuter Locations
  • Strong Local Employment Base Including Hospitals, Universities & Financial Services

Contacts

broker

Brad Balletto

Northeast Private Client Group

Location

Getting Around

  • Walk Score ®

    91/100 Walker's Paradise
  • Transit Score ®

    64/100 Good Transit
  • Bike Score ®

    61/100 Bikeable
Powered by Walk Score ®
  • City Bridgeport, CT
  • Neighborhood Downtown Bridgeport
  • Zip Code 06601
  • Market Bridgeport New Haven

Points of Interest

  • Connecticut Transportation Solutions, LLC

    1.73 miles

  • Fairfield Metro

    2.80 miles

  • Green's Farms

    7.71 miles

  • Gulf

    0.67 miles

  • Citgo

    0.83 miles

  • Shell

    0.92 miles

  • Mobil

    0.97 miles

  • BP

    1.31 miles

  • Xtra Fuels

    1.32 miles

  • Hess

    1.45 miles

  • Stratford Square

    3.66 miles

  • ChargePoint

    6.49 miles

  • Milford Government Center - Parson's Building

    7.31 miles

  • Bridgeport Municipal Garage

    0.16 miles

  • Pleasure Beach Parking Lot

    1.44 miles

  • Connecticut Park and Ride

    1.72 miles

  • Great Meadows Trail Parking

    2.15 miles

  • Lake Mohegan Recreation Area Beach Parking Lot

    3.69 miles

  • Jennings Beach Parking

    3.70 miles

  • Kelley Center Parking Garage

    3.81 miles

  • Holiday Inn

    0.09 miles

  • Quality Suites

    2.63 miles

  • Black Rock Inn

    2.82 miles

  • Fairfield Circle Inn

    3.52 miles

  • Marriott

    4.34 miles

  • HI-HO Motel

    4.62 miles

  • Devon Motel

    5.26 miles

  • Residence Inn Milford

    5.47 miles

  • SpringHill Suites Milford

    5.54 miles

  • Red Roof Inn Milford

    5.58 miles

  • Ralph n Rich's

    0.31 miles

  • Chipotle

    0.36 miles

  • Dunkin'

    0.49 miles

  • The Boca Oyster Bar

    0.51 miles

  • Uncle Buck's Fishbowl & Grill

    0.54 miles

  • Five Star Pizza House & Restaurant

    0.62 miles

  • Brewport

    0.67 miles

  • Cafeteria Morla Restaurant

    0.73 miles

  • Grand Pizza

    0.74 miles

  • Taqueria La Michoacana

    0.76 miles

  • The Bridge Academy

    0.36 miles

  • Bridgeport Adult Learning Center

    0.38 miles

  • Housatonic Community College

    0.42 miles

  • Kolbe Cathedral High School

    0.43 miles

  • Adam J. Lewis Academy

    0.44 miles

  • Saint Augustine Academy

    0.45 miles

  • Columbus School

    0.61 miles

  • Achievement First Bridgeport Academy Middle School

    0.64 miles

  • Theodore Roosevelt Elementary School

    0.67 miles

  • Waltersville School

    0.68 miles

  • ABCD Child Care Center

    0.72 miles

  • Precious Memories Early Childhood Learning Center

    0.92 miles

  • A Child's World

    1.12 miles

  • Saint Mark's Day Care Center

    1.14 miles

  • KDM Family Daycare

    1.42 miles

  • All Our Kin

    1.43 miles

  • Precious Gifts Preschool

    1.48 miles

  • Elle Em In Oh Pre

    1.80 miles

  • Creative Minds Early Childhood Center LLC

    2.10 miles

  • Teadybear Corner Daycare

    2.29 miles

Frequently Asked Questions

How much does Bridgeport 187 Portfolio cost?

The space currently listed for sale at Bridgeport 187 Portfolio asks for $30,180,000.

What is the total square footage of Bridgeport 187 Portfolio?

Bridgeport 187 Portfolio totals 149,240 square feet.

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Contact Listing Broker

broker

Brad Balletto

Northeast Private Client Group