45 Monroe St
Bridgeport, CT 06605
Westnor Apartments · Multifamily Property For Sale · 57 Units

Northeast Private Client Group is pleased to present the Westnor Apartments, a 57 unit apartment building located in Bridgeport, CT. The Westnor Apartments present an investor with the opportunity to purchase a brick apartment building featuring tenant paid heat, elevator, and secure off-street parking in the favorable Black Rock area of Bridgeport. The building is comprised of 2 efficiencies, 49 One-bedrooms and 6 two-bedroom apartments. The building has undergone capital improvements throughout the year including new carpeting and paint in the common areas, new windows, updated central hot water heater and an intercom system was installed. The building envelope has been well maintained, allowing a new owner to focus on updating unit interiors and common areas. The Westnor Apartments present the potential for near-term revenue growth. With the average rents on Ellsworth Street (adjacent to Monroe Street) being 41% higher than that of Westnor’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.