543 Ellsworth St - Apartments FOR SALE


Bridgeport, CT 06605
$5,535,000 USD
203-997-0164
543 Ellsworth St, Bridgeport, CT for Sale
$5,535,000 USD
Apartments - FOR SALE
1/7
null | 6% Cap Rate

543 Ellsworth St
Bridgeport, CT 06605


HIGHLIGHTS

  • Fully Approved 123 Unit Multifamily Development
  • Located in the desirable & vibrant shoreline community
  • Attractive mix of studio, one, and two bedroom floorplans
  • Proximity to Retail, Employment, & Universities
  • Transit Oriented with Easy Access to Rail and Multiple Highways

OVERVIEW

This is a fully approved transit-oriented 123-unit multifamily development site located on the vibrant Fairfield Avenue Corridor of Black Rock in Bridgeport, Connecticut. The approved development features a straightforward and pragmatic unit mix which simultaneously offers a variety of attractive floor plans. Amenities include an outdoor amenity deck, on-site covered parking, leasing office, fitness center, elevator, and clubroom. The Bridgeport-Stamford-Danbury market has seen strong rent growth in recent years, and this growth is projected to continue through 2025. The location of 543-557 Ellsworth Street is ideal for capturing the affluent and educated tenant base that populates Black Rock. Perfectly located for professionals and commuters, the property is within walking distance of the Fairfield Metro Train Station and less than 1 mile to Interstate 95 on- and off-ramps making commutes to New Haven, Lower Fairfield County, or NYC a breeze. Healthcare workers and university staff and faculty will find its location extremely desirable as well given its immediate proximity to several area hospitals and universities. All residents will benefit from the property’s proximity to the excellent bars, dining establishments, and entertainment amenities that the neighborhood has to offer. Fairfield County features one of the most diverse, dynamic, and resilient economies in the Northeast with burgeoning entertainment, life sciences and biotech industries, plus healthcare and research, education, energy, defense, aerospace, manufacturing, and technology.

FOR SALE DETAILS

PRICE

$5,535,000 USD

PRICE/SF

$46 USD /SF

# OF UNITS

123

PRICE/UNIT

$45,000

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Black Rock Development Site

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

-

APN/PARCEL ID

BRID-000217-000031

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-997-0164

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Edward JordanNortheast Private Client GroupMore Info
203-997-0164

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.