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
Taxes
Visits
Year Built
Walkscore
Massachusetts MLS Property Info Network (MLSPIN) - The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and
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