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16 Grape St

Chicopee, MA 01013
  • $3,090,000
  • STATUS: Active
  • MLS #: 72981901
Price Reduced
UPDATED: 12 min ago
$3,090,000
  • 63
    BEDS
  • 0.39
    ACRES
  • 29
    BATHS
  • 0
    1/2 BATHS
  • 27,000
    SQFT
  • $114
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1905
County:
Area:

School Ratings & Info

Listing courtesy of Justin Barall of Berkshire Hathaway Home Service New England Properties.

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.

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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 may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2022-06-27T17:09:28.317.
www.nrgrealestate.com/homes/128733741
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16 Grape St Chicopee, MA 01013

  • Price: $3,090,000
  • Status: Active
  • On Site: Days
  • Updated: 12 min ago
  • MLS #: 72981901
63
Beds
29
Baths
0
½ Baths
0.39
Acres
27,000
SQFT
$114
$/SQFT
1905
Built
Neighborhood:
Other
County:
Hampden
Area:
Other
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.
Exterior Features

Beachfront No Construction FrameStone/Concrete Exterior Shingles Exterior Features Deck - Wood Foundation Concrete Block Lot Description CornerGentle Slope Parking Features Off-Street Parking Spaces 0 Road Type PublicPavedPublicly Maint. Roof Material Rubber Waterfront River Waterfront Flag Yes Waterview Flag No

Interior Features

Basement Yes Basement Features Concrete FloorUnfinished Basement Bedrooms Unit1 3 Bedrooms Unit2 3 Fireplaces 0 Fireplaces Unit1 0 Fireplaces Unit2 0 Flooring Varies Per UnitHardwood Floors Unit1 1 Floors Unit2 1 Full Baths Unit1 1 Full Baths Unit2 1 Half Baths Unit1 0 Half Baths Unit2 0 Hot Water Natural Gas Levels 3 Levels Unit1 1 Levels Unit2 1 Rooms 10 Rooms Common Laundry Rooms Unit1 5 Rooms Unit2 5

Property Features

Amenities Public TransportationShoppingParkWalk/Jog TrailsLaundromatBike PathHighway AccessHouse Of WorshipPublic School Apod Available Yes Assessments 1184500.00 Disclosure Yes Disclosures Buyers And Buyer's Agent To Do Their Own Due Diligence. No Representation Or Warranty By Seller. Income & Expenses Available Upon Request. Electric Features Circuit Breakers100 Amps Expenses Source Owner ProvidedPro. Forma Available Gross Operating Income 330315 Lead Paint Unknown Lease Unit1 N Lease Unit2 N Lender Owned No Multifamily Type 5+ Family - 5+ Units Up/Down Net Operating Income 219769 Rent Unit1 1100 Rent Unit2 1100 Sewer City/Town Sewer Short Sale Lender App Required No Sq Ft Includes Basement No Sq Ft Source Public Record Tax Year 2022 Taxes 20125.00 Terms Contract For Deed Utility Connections For Gas Range Water City/Town Water Year Built Description Actual Year Built Source Public Record Zoning 101

Listing information © 2022 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Justin Barall of Berkshire Hathaway Home Service New England Properties.


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 may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2022-06-27T17:09:28.317.
 
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NRG Real Estate Services, Inc.
813 Williams Street, Suite 211
Longmeadow MA, 01106
Listing courtesy of Justin Barall of Berkshire Hathaway Home Service New England Properties.