543 Ellsworth StBridgeport, CT 06605

Property Details for 543 Ellsworth St

Year built

1920

Lot size

0.70 AC

Property size (Sq ft)

119,200 SF

Property type

Land

Property subtype

Multifamily properties

Description

This fully approved 123-unit multifamily development site in Bridgeport, CT's vibrant Black Rock neighborhood offers a compelling value-add investment opportunity. Located on a 0.7-acre lot at 543 Ellsworth St, this transit-oriented property boasts a mix of studio, one-, and two-bedroom units, designed to attract a desirable tenant base. Amenities include an outdoor deck, covered parking (135 spaces), a leasing office, fitness center, elevator, and clubroom. The 119,200 square foot building (100,050 net rentable) features five stories and was built in 1920. With a current NOI of $332,100 and a 6.00% cap rate, the asking price is $5,535,000. Its prime location offers easy access to the Fairfield Metro Train Station and I-95, making commutes to New Haven, Lower Fairfield County, or NYC convenient. The property's proximity to area hospitals, universities, and the diverse amenities of Black Rock further enhances its appeal. The strong Bridgeport-Stamford-Danbury rental market, projected to continue its growth through 2025, makes this a highly attractive investment prospect in a resilient Fairfield County economy.

Location Insight

City

Bridgeport

County

Fairfield

State

Connecticut

Latitude

41.1611

Longitude

-73.2237

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