Renovated Duplex with Updated
318 Grovers Avenue Bridgeport, CT 06605
For Sale
$779,900
Pending
Fully renovated 1st and 2nd floor apartments with kitchen and bathrooms, plus updated plumbing, furnaces, water heaters, and electrical.
Property Size2,807 SF
Days on Market191
Property Features for 318 Grovers Avenue
General Information
- Standard status
- Pending
- Size
- 2,807 SF
- Property subtype
- Multi-Family / 2 Family
Building Details
- Year Built
- 1878
Listing Agency:
RE/MAX Right Choice
(203) 209-8111
Listed By:
Paul Ferreira · License #RES.0756087
(203) 209-8111
Source:
Compass
Added: Jan 14
Changed: Jul 23
Last Checked: Jul 23 at 10:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This duplex includes a fully renovated 1st and 2nd floor apartment, each with a kitchen and bathrooms. Recent major infrastructure updates include waste pipe improvements, PVC plumbing, new furnaces, water heaters, and electrical work, supporting day-to-day convenience for occupants. The apartments are described as bright with spacious layouts.
The property is positioned just steps from Seabright Beach and the Harbor, with St. Mary by the Sea and the Harborview Market also nearby. Additional everyday destinations are within a few minutes’ drive, including major shopping and Starbucks about 0.9 miles away. Commuting and regional access points noted in the remarks include the Merritt Parkway (7.75 miles), Route 8 (8.2 miles), I-95 North and South ramps (1.8 miles), and the Fairfield train station (1.2 miles).
Overall, the offering combines renovated interiors with comprehensive systems upgrades across both levels.
The property is positioned just steps from Seabright Beach and the Harbor, with St. Mary by the Sea and the Harborview Market also nearby. Additional everyday destinations are within a few minutes’ drive, including major shopping and Starbucks about 0.9 miles away. Commuting and regional access points noted in the remarks include the Merritt Parkway (7.75 miles), Route 8 (8.2 miles), I-95 North and South ramps (1.8 miles), and the Fairfield train station (1.2 miles).
Overall, the offering combines renovated interiors with comprehensive systems upgrades across both levels.
Key Highlights
- Fully renovated 1st and 2nd floor apartments with kitchens and bathrooms
- Major infrastructure upgrades include PVC plumbing, waste pipe, furnaces, water heaters, and electrical
- Waterfront access: walk to water with water community and view
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.6k | $19.80 |
| − Vacancy | −$3.6k | −$1.29 |
| EGI | $52.0k | $18.51 |
| − OpEx | −$15.6k | −$5.55 |
| NOI | $36.4k | $12.96 |
2,807 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.7K – $606.3K
NOI $36,376 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$471.7K
$412.7K – $550.3K
NOI $33,018 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$801.2K
$701.0K – $934.7K
NOI $56,083 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully renovated 1st and 2nd floor apartments with kitchen and bathrooms, plus updated plumbing, furnaces, water heaters, and electrical.
Where is this duplex located?
The property is located at 318 Grovers Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Fully renovated 1st and 2nd floor apartments with kitchens and bathrooms; Major infrastructure upgrades include PVC plumbing, waste pipe, furnaces, water heaters, and electrical; Waterfront access: walk to water with water community and view
