Sterling House Apartments

  • Title

    Multifamily Property for Sale

  • City

    Bridgeport, CT

  • Price

    $2,175,000

  • Cap Rate

    6.0%

  • Gross Leasable Area

    12,735 SF

  • No. Units

    24

  • Price/SF

    $170.79

  • Price/Unit

    $90,625

  • No. Stories

    3

  • Year Built

    1965

Not found amenities.

Northeast Private Client Group is pleased to present the Sterling House Apartments, a 24 unit apartment building located in Bridgeport, CT.

The Sterling House Apartments present an investor with the opportunity to purchase a brick apartment building featuring off-street parking in the desirable Black Rock neighborhood of Bridgeport. The building is comprised of 12 efficiencies and 12 One-bedroom units. The building has undergone capital improvements throughout the years which include new windows, security cameras, and a high-efficiency boiler system. The building envelope has been well maintained, allowing a new owner to focus on updating unit interiors and common areas.

The Sterling House Apartments present the potential for near-term revenue growth. With the Average rents on Ellsworth Street being 47% higher than that of Sterling House’s, there is clear opportunity to push rents to meet market value. 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

Sterling House Apartments