122 Chestnut St - Apartments FOR SALE


Springfield, MA 01103- Downtown Springfield
$16,000,000 USD
781-300-2502
122 Chestnut St, Springfield, MA for Sale
$16,000,000 USD
Apartments - FOR SALE
1/12
null | 7.64% Cap Rate

122 Chestnut St
Springfield, MA 01103
Downtown Springfield


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • Rental Growth & Upside Potential
  • Capital Improvements
  • Off-Street Parking & Amenities
  • Strong Rental Demographics & Demand

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 122 Chestnut Street in Springfield, MA (the “Property”). The seven-story building contains one-hundred and fourteen (114) total units, comprised of fifty-three (53) 2-Bedroom/1-Bathroom units, two (2) 2-Bedroom/1.5-Bathroom units, forty (40) 1-Bedroom/1-Bathroom units, one (1) 3-Bedroom/1.5 Bathroom unit, and eighteen (18) Studio units with 183,840 square feet of gross living area. The Property is situated upon a 0.59-acre parcel and offers ample parking with one-hundred and two (102) spaces available via a land lease for a multi-story parking garage next to the Property. The Property is centrally located in the heart of downtown Springfield, offering exceptional visibility and accessibility within the city’s active urban core. The property benefits from proximity to major employers, government offices, and cultural destinations, including the MGM Springfield resort, MassMutual Center, and Springfield Museums. Its prime downtown location provides convenient access to public transit, Interstates 91 and 291, and an array of nearby dining, retail, and service amenities, making it an ideal setting for both residents and businesses seeking a vibrant, well-connected environment.

FOR SALE DETAILS

PRICE

$16,000,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

114

PRICE/UNIT

$140,351

CAP RATE

7.64%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Silver Brick Square

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

1940

PARKING SPACES

102

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,700 SF

ZONING

B3

APN/PARCEL ID

SPRI-002750-000000-000038

ASK ABOUT THIS PROPERTY

Michael BradleyHorvath & TremblayMore Info
781-300-2502

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Michael BradleyHorvath & TremblayMore Info
781-300-2502

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.