New Five-Unit Apartment
For Sale
Under Contract
$2,599,000
281 Greenwich Avenue, Stamford, CT 06902
Multi-Family For Sale, Units are Side-by-Side, Stamford, CT
Property Size5,760 SF
Lot Size0.23 Acres
Price / SF$451.22
Days on Market299
Property Features for 281 Greenwich Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RMF
Bedrooms
15
Bathrooms
15
Full bathrooms
15
Rooms
Bedroom 14, Bedroom 4, Bathroom 8, Bathroom 10, Bathroom 4, Bathroom 14, Bathroom 6, Bedroom 6, Bedroom 10, Bedroom 2, Bedroom 13, Bedroom 15, Bathroom 15, Bathroom 13, Bathroom 2, Bathroom 5, Bedroom 11, Bathroom 12, Bedroom 12, Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 7, Bathroom 3, Bathroom 9, Bedroom 1, Bedroom 3, Bathroom 11, Bedroom 8, Bedroom 9
Parking
9
Basement
Crawl Space
Lot features
Level Lot
Elementary school
Newfield
High school
Stamford
Directions
West Main Street to Greenwich Ave.
Subdivision
Waterside
Standard status
Active Under Contract
Size
5,760 SF
Lot size
0.23 Acres
Additional Details
Individually Metered Utilities
all utilities
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
19472
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer in each unit
attic storage
alarm system with camera
Building Details
Year built
2024
Architectural style
Other
Listing Agency:
BHGRE Shore & Country
(203) 504-5005
Listed By:
Silvana Orsaia · License #RES.0512945
(203) 249-1611
Added: Jan 9
Changed: Oct 30
Last Checked: Nov 3 at 5:06PM
MLS# 24148165
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2024, this five-unit apartment property contains 5,760 square feet on a 0.23-acre parcel. Each residence is arranged with three bedrooms and three bathrooms, along with a washer and dryer, attic storage, central air, and separate utilities. The property also includes an alarm system with camera coverage and 12 parking spaces. A Certificate of Occupancy has been issued for the completed units.
Located at 281 Greenwich Avenue in Stamford, the property offers walkable access to Stamford Train Station and convenient proximity to downtown Stamford and Harbor Point, including shopping, restaurants, and bars. Public water and public sewer serve the property, which is zoned RMF.
Located at 281 Greenwich Avenue in Stamford, the property offers walkable access to Stamford Train Station and convenient proximity to downtown Stamford and Harbor Point, including shopping, restaurants, and bars. Public water and public sewer serve the property, which is zoned RMF.
Key Highlights
- Five‑unit apartment property completed in 2024 with Certificate of Occupancy
- 5,760 SF building on a 0.23‑acre parcel
- Each unit includes 3 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,132
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,982,640
$2.0M
Cap Rate 7%
$1,416,171
$1.4M
Cap Rate 9%
$1,101,467
$1.1M
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$192.2K $33.36/SF
− Vacancy
−$11.9K −$2.07/SF
EGI
$180.2K $31.29/SF
− OpEx
−$81.1K −$14.08/SF
NOI
$99.1K $17.21/SF
Area
Stamford, CT
Vacancy
6.20%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,982,640
Cap Rate 7%
$1,416,171
Cap Rate 9%
$1,101,467
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,132 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,787 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently built residences feature three-bedroom layouts, private laundry, central air, and shared parking.
Where is this apartment building located?
The property is located at 281 Greenwich Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: Five‑unit apartment property completed in 2024 with Certificate of Occupancy; 5,760 SF building on a 0.23‑acre parcel; Each unit includes 3 bedrooms and 3 bathrooms
