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    187 Portfolio Bridgeport, CT 06601

    Sponsored
    For Sale
    $30,180,000

    187-unit apartment complex, high ROI.

    Property size:
    149,240 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 187-unit multifamily portfolio in Bridgeport, Connecticut, presents a compelling investment opportunity. Priced at $30,180,000, this value-add property boasts a 149,240 square foot footprint across six buildings situated on 5.62 acres. Constructed between 1952 and 1990, the portfolio benefits from significant recent capital improvements, including new parking lots, roofs, siding, and landscaping. Interior renovations have upgraded at least 145 units, encompassing kitchens, bathrooms, flooring, and lighting. The portfolio's strategic location offers easy access to local shopping, transportation, and major employment centers in New Haven, Stratford, Shelton, and Lower Fairfield County. Proximity to universities, hospitals, a Metro North train station, M&T Bank headquarters, a deep-water port, and a ferry to Port Jefferson further enhances its appeal. The current 6.60% cap rate, with a pro-forma rate of 9.73%, indicates strong, stable cash flow and significant near-term upside potential. Bridgeport's tight occupancy rate (3.9% submarket vacancy) underscores the robust demand for this type of housing. This portfolio offers immediate scale and a unique product within the local market, making it an attractive investment for those seeking a well-located, value-add multifamily asset in a high-demand area. The portfolio is 100% market rate and represents naturally occurring affordable housing.

    Property Features for 187 Portfolio

    General Information

    Property type
    Multifamily properties
    Square Feet
    149,240 SF
    Lot Size
    244,807 SF

    Building Details

    Year Built
    1952
    Units
    187

    HighLights

    • 100% Market Rate Units
    • Value‑Add Opportunity with significant recent capital improvements including roofs, siding, parking lots, landscaping, and 145+ renovated units.
    • Unique Product in a High‑Demand Market with low submarket vacancy (3.9%).
    • $30,180,000 Asking Price with a 6.60% current cap rate and a 9.73% pro‑forma cap rate.
    • Naturally Occurring Affordable Housing.
    • Prime Location near major employment centers, transportation (including Metro North), universities, hospitals, and financial services (M&T Bank).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Bridgeport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1883898
    Latitude
    41.1800621

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    FAQs

    What type of property is this?
    Multifamily property - 187-unit apartment complex, high ROI.
    Where is this multifamily property located?
    The property is located at 187 Portfolio Bridgeport, CT.
    What is the asking price?
    The asking price for this property is $30,180,000.
    What are key features of this property?
    This property features: 100% Market Rate Units; Value-Add Opportunity with significant recent capital improvements including roofs, siding, parking lots, landscaping, and 145+ renovated units.; Unique Product in a High-Demand Market with low submarket vacancy (3.9%).
    Request Owner's contact information
    187 Portfolio Bridgeport, CT 06601
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    187 Portfolio Bridgeport, CT 06601
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