356-364 Belmont Ave - Apartments FOR SALE


Springfield, MA 01108- Forest Park
$6,600,000 USD
508-330-0325
356-364 Belmont Ave, Springfield, MA for Sale
$6,600,000 USD
Apartments - FOR SALE
1/5
null | 7.06% Cap Rate

356-364 Belmont Ave
Springfield, MA 01108
Forest Park


OVERVIEW

Exclusive opportunity to purchase 56 units In the desirable Forest Park section of Springfield, Ma. Property consists of two 23 unit buildings on the same parcel consisting of 11 studios, 42 one bedrooms, and 3 two bedroom units. Rare opportunity to acquire an asset of this size with off street parking in a building where tenants pay utilities aside from hot water provided by landlord. Units have all had some degree of renovation through current ownership cycle. Presents an opportunity to continue to increase rents and acquire significant scale in a market at a good going in basis. Please reach out to the broker contacts for details rent roll and profit and loss.

FOR SALE DETAILS

PRICE

$6,600,000 USD

PRICE/SF

$215 USD /SF

# OF UNITS

56

PRICE/UNIT

$117,857

CAP RATE

7.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,696 SF

ZONING

SR2B1

APN/PARCEL ID

SPRI-001235-000000-000077

ASK ABOUT THIS PROPERTY

John SlymanNew England Apartment Group, LLCMore Info
508-330-0325

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John SlymanNew England Apartment Group, LLCMore Info
508-330-0325

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