SQUARE FEET144,383
MLS#73353622
STATUSPending
PROPERTY TYPECommercial - Investment
Property Description
Actual 7.8% CAP RATE with annual in-place rent increases. Rare portfolio of 3 stabilized, cash-flowing, professionally managed brick properties in Springfields strong rental market, totaling 127 units: 120 1-bed/1-bath, 7 studios, 3 commercial. 96% REAC score, upgraded mechanicals, on-site laundry, security systems. $270K recently invested in energy-efficiency upgrades (attic insulation, low-flow fixtures, door sealing), boosting NOI. Upside via repurposing underused commercial/office space. Two assets on the National Register of Historic Places (potential tax credits??buyer to verify).64 Myrtle: 39-unit school conversion (5 lofts), roof <7 yrs, Grundfos pumps, 2022 ACV Prestige 6 system w/ dual tanks.11 Acushnet: 24-unit school conversion, roof <10 yrs, 2015 Prestige Triangle Tube system, 100-gal indirect heater.519 Main: 64 units, new water heaters (22/23), RUUD AC for commercial, roof <10 yrs.All 3 sold as a portfolio.
Property Features
Property Type: Commercial - Investment
Lot Size: 3.62 Acres
Taxes: $91,275
Year Built: 1914
Feature Descriptions
Building Area Total: 144383
Business Type: 5+ Residential
Compensation Based On: N/A
Compensation Broker Transaction: N/A
Compensation Buyer Agency: N/A
Compensation Sub Agency: N/A
Compensation Sub Agency Offered: N/A
Days on Site: 476
Parcel Number: 2596904
Rental Term: Monthly
Utilities: Public Water, Public Sewer, Natural Gas Available
Listed By / Shown By
Listed By
Agency Name: Century 21 AllPoints Realty
Agent Name: Lisa Cozzi
Agency Phone: 860-621-8378
Shown By
Agency Title: Better Homes and Gardens Real Estate The Masiello Group
Agency Phone: 800-741-1540
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64 Myrtle Street | MLS# 73353622
This commercial property located at 64 Myrtle Street, Springfield, MA 01105 is currently listed for sale with an asking price of $11,900,000. Search Springfield real estate on www.masiellogrouprealestate.com today.