Northeast Private Client Group is pleased to present 55 Crystal Street, a fully renovated 10-unit multifamily asset located in the Berkshire County village of Lenox Dale, Massachusetts. Originally constructed in 1930 and extensively updated in 2019, this two-story 11,608-square-foot low-rise apartment building offers a stabilized, turnkey investment opportunity with strong in-place operations.
Situated on a 2.0-acre parcel, the property features 10 spacious one-bedroom units, each equipped with modern finishes including stainless steel appliances, dishwashers, and updated kitchens and baths. Tenants enjoy on-site laundry facilities, storage space, a picnic area, which enhances resident satisfaction and retention. The highest achieved rent for a one-bedroom unit is approximately $2,000, reflecting the property's upgraded condition and desirable location.
The property benefits from its position within the Berkshires, where the current vacancy rate in Lenox is approximately 4.9 percent. Lenox Dale offers a quiet residential setting with proximity to cultural, recreational, and employment hubs. The property is less than 10 minutes from Lenox’s vibrant town center, approximately 20 minutes from Great Barrington, and 18 minutes from Pittsfield Amtrak Station, with convenient access to major commuter routes.
An exciting opportunity exists to develop additional apartments behind the building, utilizing adjacent land with potential for further expansion and parking. This presents an attractive prospect for investors seeking long-term value appreciation and increased income potential.