6-Unit Apartment
509-515 Gregory Street, Bridgeport, CT 06604
For Sale
New
$1,175,000
Separate utility meters serve the apartments, and a rear parking area accommodates approximately six vehicles.
Property Size5,676 SF
Price / SF$206.14
Days on Market1
Property Features for 509-515 Gregory Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Baldwin Pearson & Co., Inc
Listed By:
Daniel Shawah · License CT RES.0829215
(203) 521-6348
Source:
Higginsgroup
Added: Nov 12
Last Checked: Nov 12 at 2:33PM
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 Baldwin Pearson & Co., Inc
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Investment Insights
Based on property information with market context.
Built in 1895, this Bridgeport apartment property contains six units across approximately 5,700 square feet. The unit mix includes four 2.5-bedroom apartments and two 2-bedroom apartments. Utilities are separately metered, and a rear parking area provides space for approximately six vehicles.
The property occupies the corner of Gregory and Rennell Streets. Seaside Park, the Hartford HealthCare Amphitheater, the University of Bridgeport, and Downtown Bridgeport are within walking distance.
The property occupies the corner of Gregory and Rennell Streets. Seaside Park, the Hartford HealthCare Amphitheater, the University of Bridgeport, and Downtown Bridgeport are within walking distance.
Key Highlights
- Six apartments: four 2.5‑bedroom units and two 2‑bedroom units
- Approximately 5,700 square feet
- Separate utility meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,048
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,340,960
$1.3M
Cap Rate 7%
$957,829
$957.8K
Cap Rate 9%
$744,978
$745.0K
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$128.6K $22.56/SF
− Vacancy
−$6.7K −$1.17/SF
EGI
$121.9K $21.39/SF
− OpEx
−$54.9K −$9.62/SF
NOI
$67.0K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,340,960
Cap Rate 7%
$957,829
Cap Rate 9%
$744,978
Alternative Uses
Best Use
Apartment 5plus
$957.8K
$838.1K – $1.12M
NOI $67,048 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,883 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Bridgeport, CT
Properties on Market for Apartment buildings in Bridgeport
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate utility meters serve the apartments, and a rear parking area accommodates approximately six vehicles.
Where is this apartment building located?
The property is located at 509-515 Gregory Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Six apartments: four 2.5‑bedroom units and two 2‑bedroom units; Approximately 5,700 square feet; Separate utility meters
