509 Gregory Street

Bridgeport CT 06604

5676 sq. ft.

0.12 ac.

Multi-Family

Currently for sale - view listing

Overview

Welcome to 509-515 Gregory Street, Bridgeport, Connecticut, a compelling six-unit multifamily investment opportunity offering attractive in-place cash flow and significant rental upside. Ideally positioned on a prominent corner at Gregory and Rennell Streets in Bridgeport's South Side, this approximately 5,700-square-foot property presents investors with the opportunity to acquire a well-positioned residential asset in an excellent neighborhood in one of the fastest growing rental markets in the US. The property consists of six generously sized apartments, including four 2.5-bedroom units and two 2-bedroom units. These larger-than-average layouts appeal to a broad tenant base and offer a competitive advantage in attracting and retaining residents. All utilities are separately metered, helping minimize owner-paid operating expenses, while a dedicated rear parking area accommodates approximately six vehicles. The property's location further enhances its appeal. Situated within walking distance of Seaside Park, The Hartford Healthcare Ampitheater, the University of Bridgeport, and Downtown Bridgeport, the property benefits from proximity to some of the city's most significant neighborhood amenities and employment centers. These nearby destinations support consistent rental demand from students, university personnel, and working professionals. Beyond its attractive in-place income, the property offers a clear path to increased revenue. One apartment is currently vacant and available for immediate lease-up, while several existing units are leased at rents below current market levels. This creates an opportunity for a new owner to enhance the property's income through strategic leasing and rent adjustments as units turn over, with the potential to realize meaningful upside without requiring substantial upfront capital investment.

Features

12 bedrooms

6 bathrooms

6 carspaces

5676 sq. ft. floor area

0.12 ac. lot size

Multi-Family

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