SPRINGFIELD 16 PROPERTY ASSEMBLAGE 33 UNITS

Multi-Family for Sale
Catylist Listing ID: 30495029
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 33 Units
Building Size (RSF): 37,530 SF
Gross Building Area: See Agent
Sale Price: $2,145,000
Unit Price: $65,000 Per Unit
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 10.0%
Average Occupancy Rate: 100
Last Updated: 9/4/2019

Overview / Comments

Well maintained 16 property 33 unit assemblage of 10-Two family, 1 Four Family and 2 SFR properties. Excellent tenants. Net Operating Income is $214,500 allowing for a 10% CAP Rate. Gross Income $337,164.

Majority of properties have 3-4 bedroom units. 100% Occupied and deleaded.

This is the remaining property of an investor who has been selling/trading Multifamily for Non-Residential Commercial property within 1 hour of Springfield MA.

You can buy one, some, or all of the 16 Property 33 Unit assemblage remaining. All properties are within a couple of miles of the new MGM Casino.

The owner would consider holding a first mortgage at reasonable rates (5%-6%) over 20 years for a well-qualified buyer with a reasonable down payment.

They will also accept trade for these free and clear assets. Partial trade or they will add cash and trade for up to $4,000,000 in commercial asset(s).

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $38,099 (Annual)

Additional Details

Nearest MSA: Springfield
County: Hampden
Taxing Authority: Springfield
Tax ID/APN: 012350285
Zoning: RB
Percent Occupied: 100%
Property Located Between: All within 2 miles of new MGM CASINO
Highway Access: Rt 91, Rt 90 & Rt 291
Airports: BDL
Site Description: Typical lots
Area Description: Inner City Residential
Total Number of Buildings: 16
Property Condition: Average
Number of Stories: 3
Parking Description: Driveway
Heat Type: Natural Gas, Oil
Internet Access: Cable
Zoning Description: Residential
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 31,793 150,480 263,730
Median Age: 29.71 34.09 36.62
Households: 11,282 55,288 99,578

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