MLS Number 72347935
- Commercial 5+ Residential
- Year Built 1950
52 Total units in 21 locations, mostly 2-3 family dwellings in Springfield with a nice 6 unit brick plus commercial in Chicopee MA. The assemblage is with one owner and the financials are incredible due to the unit sizes and number of bedrooms. 100% occupied and deleaded. NET OPERATING INCOME $397,822, CAP RATE 12.83%, DEBT COVERAGE RATIO 2.57, CASH ON CASH RETURN 31.12% (based on a 75% LTV at 4.5% interest over 25 years). Properties are being sold at $47.00 per sq. ft. MLS SOLD listing in past 6 months have averaged $56.00 per sq. ft. These properties are being marketed at 15% below the average SOLD price of comparable properties on MLS.
Listed by Mark DiFranco of DiFranco Realty