575 Ellsworth St Bridgeport, CT 06605

Property Details for 575 Ellsworth St

Year built

1974

Property size

46,143 SF

Property type

Commercial real estate

Description

This exceptional 66-unit apartment building, Rock Ridge Place, is offered for sale at $15,000,000. Located at 575 Ellsworth St, Bridgeport, CT 06605, in the desirable Black Rock neighborhood of Fairfield County, this multifamily property boasts 46,143 square feet and a strong Net Operating Income (NOI) of $977,567. Built in 1974, the property has recently undergone over $2,000,000 in capital improvements. The unit mix consists of 63 one-bedroom and 3 two-bedroom apartments, each featuring upgraded finishes including shaker-style cabinets, stone countertops, stainless steel appliances, in-unit laundry, tile bathrooms, modern lighting, and new flooring. Attracting a desirable tenant base of young professionals, commuters, students, and empty-nesters, Rock Ridge Place offers a compelling combination of amenities including a dog park, tenant lounge, elevator, package rooms, sun deck, and covered parking. Its prime location provides easy access to the Fairfield Metro Train Station, Captain's Cove Marina, various parks, Saint Mary's by the Sea Waterfront, and the vibrant shopping, dining, and entertainment options on Fairfield Avenue. This turn-key property presents a significant value-add opportunity with potential for further rent growth in a thriving submarket, offering a low energy expense and a transit-oriented location. The property's strong performance and attractive features make it an ideal investment opportunity.

Location Insight

City

Bridgeport

County

Fairfield

State

Connecticut

Longitude

-73.2241722

Latitude

41.1617578