575 Ellsworth St - Apartments FOR SALE


Bridgeport, CT 06605- Black Rock
$15,000,000 USD
203-692-2420
575 Ellsworth St, Bridgeport, CT for Sale
$15,000,000 USD
Apartments - FOR SALE
1/20
null | 6.52% Cap Rate

575 Ellsworth St
Bridgeport, CT 06605
Black Rock


HIGHLIGHTS

  • Immediate and Easily Obtainable Value-Add Opportunity
  • Multiple Strategies to Capture Remaining Upside
  • Turn-Key Property with Significant Recent Capital Improvements
  • Highly Amenitized
  • Burgeoning Submarket - Black Rock
  • Significant Rent-Growth Tailwinds

OVERVIEW

Rock Ridge Place is a 66-unit apartment community located in the heart of Black Rock, Bridgeport, CT. Rock Ridge Place has recently received over $2,000,000 in capital improvements and features an array of high-end amenities and finishes that cater to a desirable tenant base of young professionals, affluent commuters, students & faculty, and sophisticated empty-nesters. Rock Ridge Place includes sixty-three (63) one-bedroom and three (3) two-bedroom apartments. Each apartment features new shaker-style cabinets, stone countertops, stainless steel appliances, in-unit laundry, tile bathrooms, modern lighting, and new flooring. Tenant amenities include a dog park, tenant lounge, elevator, package rooms, sun deck, and covered parking. The property is walkable to many area amenities including the Fairfield Metro Train Station, Captain’s Cove Marina, various parks, Saint Mary’s by the Sea Waterfront, and shopping, dining, arts, and nightlife on Fairfield Avenue. Rock Ridge Place offers a new owner the opportunity to acquire a turn-key property with remaining value-add potential in one of the most exciting submarkets in Connecticut.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

66

PRICE/UNIT

$227,273

CAP RATE

6.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rock Ridge Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

RC

APN/PARCEL ID

BRID-000217-000021A

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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Edward JordanNortheast Private Client GroupMore Info
203-692-2420

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