Multifamily Property for Sale
Northeast Private Client Group is pleased to present the Harvard Apartments, a 24 unit apartment building located in Bridgeport, CT.
The Harvard Apartments present an investor with the opportunity to purchase a brick apartment building that features off-street parking in Connecticut’s most populous city. The building is comprised of 5 studios, 5 one-bedrooms and 14 larger sized one-bedroom units. Recent improvements to the building include a new high efficiency gas heat and hot water system,and vinyl replacement windows.
Bridgeport presents an investor with the potential for near-term revenue growth as rents continue to rise due to relative affordability to the lower Fairfield County Submarkets of Norwalk and Stamford. Many tenants choose to live in Bridgeport and commute downcounty in light of rent spreads for similar quality rental options of $500/month or more. As these rents continue to climb in Norwalk and Stamford, Bridgeport will continue to draft off this pricing. Additionally, Bridgeport continue to develop as a market with significant redevelopment downtown in the Main Street North Corridor, the creation of a new shopping and entertainment district at Steel Point Harbor with a New Bass Pro Shops and rumors of an MGM Casino, and plans to add a second Metro North train station on the city’s East Side.
Bridgeport, Fairfield County, CT