$12,800,000

Est. Mortgage $62,219/mo *

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64 Myrtle Street, Springfield, MA, 01105

64 Myrtle Street, Springfield, MA, 01105
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1 beds

1 Full baths

1914

144,383 sqft

Actual 7.8 CAP! Annual in place Rent increase. This exceptional portfolio of brick, high-performing affordable housing assets has 127 residential units: 120, 1-bedroom/1-bathroom units; 7 studios & 3 commercial spaces. A rare opportunity to acquire 3 stabilized, professionally managed, cash-flowing properties in Springfield's robust rental market.Boasting an impressive 96% REAC score, these properties feature upgraded mechanical systems, on-site laundry, & security systems. A recent investment of $270K in energy-efficiency improvements: attic insulation, low-flow fixtures, & door sealing-has enhanced operating efficiency & NOI.While well maintained, the portfolio offers upside potential through the creative repurposing of underutilized commercial/office space. 2 of the properties are listed on the National Register of Historic Places, potentially qualifying for tax credits (investor to verify). 64 Myrtle St is a stunning adaptive reuse of a former school, offering 39 units (including 5 loft-style), a roof under 7 years old, high-efficiency Grundfos pumps, & a 2022-installed ACV Prestige 6 Weil-McLain system w dual storage tanks. 11 Acushnet a beautiful adaptive reuse of a former school, consists of 24 units w a roof under 10 years old & a Prestige Triangle Tube system w a 100-gallon indirect hot water heater (2015 install).519 Main features 64 units, newer hot water heaters 22/23, a RUUD AC for commercial space, & a roof under 10 years old.All 3 assets to be sold together

Status:

Active

Type:

Commercial

Units:

130

Zoning:

R

Frontage:

Municipal Street

Garage:

Paved, Driveway

Heating:

Other

Cooling:

None

Parking:

80-car

Acreage:

3.62

Est. Taxes:

$65,865

Assessment

$3,621,500

Utilities

Electric,Gas

Lot Description:

Level Lot

Days on Market:

22

MLS #:

73353622

Community Info

School Info

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Mass Transit

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Listing courtesy of Lisa Cozzi, Century 21 AllPoints Realty Email: lisacozzi@lisacozziteam.com