45 Monroe St | Bridgeport, CT 06605
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45 Monroe St
Bridgeport, CT 06605
Black Rock Homes · Multifamily Property For Sale · 57 Units
Investment Highlights
- 100% Market Rate
- Value- Add Opportunity
- Exceptional Submarket Fundamentals
- Turnkey Asset with Significant Recent Capital Improvements
- Burgeoning Submarket – Black Rock
- Attractive to Cost Conscious Lifestyle Renters
Executive Summary
Northeast Private Client Group is pleased to exclusively present Black Rock Homes, a 57-unit, 100% market-rate, turnkey apartment building located within the Black Rock neighborhood of Bridgeport, Connecticut. Located at 45 Monroe Street in Bridgeport, Connecticut, Black Rock Homes consists of 44,121 square feet of livable area on a 1-acre parcel and includes parking for fifty-seven (57) vehicles. This asset offers a mix of apartment layouts catering to various living needs, from studios to two-bedroom units. Each apartment boasts an inviting floor plan, high-end finishes, and modern amenities, ensuring a luxurious living experience for tenants. Black Rock Homes is nestled within Connecticut’s coveted Black Rock neighborhood. Known for its historic charm and vibrant community atmosphere, the neighborhood offers a unique blend of coastal beauty and urban conveniences. Residents enjoy direct access to St. Mary's-By-The-Sea, a waterfront park offering scenic vistas of Long Island Sound, trendy eateries offering diverse cuisines, and cultural events that enhance the area's allure. Community events such as art festivals and farmers' markets further enrich the cultural fabric of Black Rock, fostering a strong sense of community among its residents. Convenient access to public transportation and major roadways facilitates easy commuting throughout Bridgeport while providing convenient regional access. This location provides tenants easy access to major employment hubs in New Haven, Stratford, Shelton, and Lower Fairfield County. Additionally, the property is located less than one mile away from the Fairfield Metro North train station with direct service to Grand Central Terminal, making it a great option for NYC commuters. Further demand drivers include several renowned universities, two major hospitals, M&T Bank headquarters, a deep-water port, and a ferry to Port Jefferson on Long Island. With its prime location and local amenities, Black Rock Homes presents a compelling investment opportunity. Bridgeport's strategic growth and increasing demand for high-quality housing make this property a lucrative choice for investors seeking long-term value and rental income stability.
PROPERTY FACTS
Price Per Unit | $200,877 | Building Class | B |
Sale Type | Investment | Lot Size | 1.00 AC |
Cap Rate | 6.09% | Building Size | 45,121 SF |
No. Units | 57 | Average Occupancy | 100% |
Property Type | Multifamily | No. Stories | 3 |
Property Subtype | Apartment | Year Built/Renovated | 1969/2022 |
Apartment Style | Low Rise | Parking Ratio | 1.26/1,000 SF |
Price Per Unit | $200,877 |
Sale Type | Investment |
Cap Rate | 6.09% |
No. Units | 57 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 1.00 AC |
Building Size | 45,121 SF |
Average Occupancy | 100% |
No. Stories | 3 |
Year Built/Renovated | 1969/2022 |
Parking Ratio | 1.26/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Stainless Steel Appliances
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 51 | - | 368 - 714 |
2+1 | 6 | - | 829 |
PROPERTY TAXES
Parcel Number | BRID-000219-000017 | Improvements Assessment | $1,821,800 |
Land Assessment | $751,180 | Total Assessment | $2,572,980 |
PROPERTY TAXES
Parcel Number
BRID-000219-000017
Land Assessment
$751,180
Improvements Assessment
$1,821,800
Total Assessment
$2,572,980
zoning
Zoning Code | RB |
RB |
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