Price Reduction - Waterfront
Address
16 Grape St Chicopee, MA
Price
$ 3,090,000
Property Attributes
  • MLS#72981901
  • TypeMulti-Family
  • CountyHAMPDEN
  • CityChicopee
  • Zip01013
  • Style5+ Family - 5+ Units Up/Down
  • Year Built1905
  • Taxes$ 20125
  • Price$ 3,090,000
  • Bedrooms63
  • Full Bathrooms29
  • Half Bathrooms0
  • Sqr Footage27000
  • Lot Size0.39 Acres
Listing Provided Courtesy Of:
Justin Barall with Berkshire Hathaway Home Service New England Properties.
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description

Amazing opportunity to purchase a cash flowing, fully occupied 29-unit portfolio, in an emerging Chicopee market! This portfolio consists of 29 units, of which 22 are all on one block, the other 7 Units are only a few minutes away (726 Chicopee St). 26 of the 29 units are residential with up to date tenants, no arrears! The other 3 commercial spaces are home to 3 long term tenants, two salons and one storefront style church. Utilities are tenant paid, including electric heat in all 29 units, so no need to worry about replacing boilers. Many updates throughout, including electrical panels, water heaters, and updated units. Additional upside through increasing current rent roll. Proforma is a 8.7% CAP. Professional management company handles the daily operations and maintenance. Perfect for an investor who isn't local or is looking for a "hands off" income producing asset.

Price History
5/15/2022 Listed $3,190,000
6/16/2022 4% - $3,090,000

General Features

Appliances Gas Water Heater, Utility Connections for Gas Range
Basement Concrete, Unfinished
Building Area Units Square Feet
City Chicopee
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Laundromat, Bike Path, Highway Access, House of Worship, Public School
Construction Materials Frame, Stone
County Hampden
Directions Front St to Grape St
Disclosures Buyers And Buyer's Agent To Do Their Own Due Diligence. No Representation Or Warranty By Seller. Income & Expenses Available Upon Request.
Electric Circuit Breakers, 100 Amp Service
Garage Y/N No
Grossincome 330315
Lot Size Square Feet 16988.4
Net Operating Income 219769
Operatingexpense 110547
Patio/Porch Features Deck - Wood
Property SubType 5+ Family - 5+ Units Up/Down
Property Type Residential Income
Roof Rubber
Sewer Public Sewer
Showing Instructions Call List Agent, Call List Agent. Pof Needed To Schedule Showings. Please Give 24-Hr Notice.
Standard Status Active
Status Active
Street Name Grape St
Tax Annual Amount 20125
Tax Year 2022
TaxAssessedValue 1184500
Total Actual Rent 2200
Total Rooms 10
Total Units 29
Utilities for Gas Range
Waterfront Features Waterfront, River
Year Built 1905
Year Built Details Actual
Yearbuiltsource Public Records
Zoning 101

Interior Features

Fireplace Y/N No
Flooring Varies Per Unit, Hardwood
Full Baths 29
Laundry Features Laundry Room
Living Area 27000
Total Baths 29
Total Bedrooms 63
Total Stories 3

Exterior Features

Building Area Total 27000
Foundation Details Block
Lot Features Corner Lot, Gentle Sloping
Lot Size Acres 0.39
Lot Size Area 0.39
Lot Size Units Acres
Parking Features Off Street
Road Frontage Type Public
Road Responsibility Public Maintained Road
Road Surface Type Paved
Water Source Public
Waterfront Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 01013

Price
AVG $650K
$3.09M
Taxes
AVG $5,293
$20,125
Visits
AVG 37
38
Year Built
AVG 1913
1905
Walkscore
AVG 75
81
Data Provided by Walkscore ® not using MLS data

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