41-49 School St - Apartments FOR SALE


Springfield, MA 01105- Six Corners
$3,500,000 USD
781-300-2502
41-49 School St, Springfield, MA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/10
null | 5.65% Cap Rate

41-49 School St
Springfield, MA 01105
Six Corners


HIGHLIGHTS

  • Attractive Unit Mix
  • Recent Capital Improvements
  • Outstanding Location
  • Transit Oriented
  • MGM Springfield
  • Higher Education Presence

OVERVIEW

Horvath & Tremblay is pleased to present the sale of The Forty-Four, a multi-family investment property located at 41-49 School Street in Springfield, Massachusetts (the “Property”). The offering consists of a four-story brick multi-family building and contains a total of forty-four (44) units, comprised of twenty (20), Studio units, twenty (20), 1-Bedroom/1- Bathroom units and four (4), 2-Bedroom/1-Bathroom units with 27,787 square feet of living area in 34,760 square feet of gross area on a 0.35-acre corner parcel of land. The Property features updated electrical, recently renovated units, and five (5) on-site parking spaces. The Property is located on the corner of School and High Street an area known for some of Springfield’s most architecturally distinguished buildings. It’s situated on the border of the Metro Center and Six Corners neighborhoods of Springfield and is 0.25 miles from the heart of Downtown Springfield with excellent access to all the amenities the city has to offer. Springfield is the economic center of western Massachusetts and features a walkable downtown with a plethora of employment and entertainment opportunities. High profile attractions include the new MGM Hotel & Casino, the MassMutual Center, and the Naismith Basketball Hall of Fame. Springfield is also home to the Commonwealth of Massachusetts' largest Fortune 100 company, MassMutual Financial Group three large area hospitals and several colleges and universities, all of which create employment opportunities and drive people to the area.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

44

PRICE/UNIT

$79,545

CAP RATE

5.65%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Forty Four

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1918

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

R3

APN/PARCEL ID

SPRI-010650-000000-000059

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.