Springfield, MA64 Myrtle Street, Indian Orchard
Price$11,900,000
MLS Number 73353622
- CommercialSale
- Neighborhood Indian Orchard
- Square Feet 144,383
- Acreage 3.62
- Zoning R3/B2
Actual 7.8% CAP RATE with annual in-place rent increases. Rare portfolio of 3 stabilized, cash-flowing, professionally managed brick properties in Springfield's strong rental market, totaling 127 units: 120 1-bed/1-bath, 7 studios, 3 commercial. 96% REAC score, upgraded mechanicals, on-site laundry, security systems. $270K recently invested in energy-efficiency upgrades (attic insulation, low-flow fixtures, door sealing), boosting NOI. Upside via repurposing underused commercial/office space. Two assets on the National Register of Historic Places (potential tax credits-buyer to verify).64 Myrtle: 39-unit school conversion (5 lofts), roof
Listed by Lisa Cozzi of Century 21 AllPoints Realty