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216 Pearl St

Springfield, MA 01105
  • $5,500,000
  • STATUS: Active
  • MLS #: 73076462
UPDATED: 64 min ago
$5,500,000
  • 0
    BEDS
  • 0.44
    ACRES
  • 52
    BATHS
  • 0
    1/2 BATHS
  • 47,980
    SQFT
  • $115
    $/SQFT
Type:
Multi-Family
Built:
1914
County:

School Ratings & Info

Listing courtesy of Zuleika Rivera of CP Property Group, LLC.

Description

ATTENTION APARTMENT INVESTORS!!! 216-226 Pearl Street consists of a total of 52 units (two adjacent buildings of 26 units each). $72k monthly rents (proforma). The building sits in the center of Springfield behind STCC; walking distance to downtown; and conveniently located with easy access to both the 291 and 91 freeways. Consists mostly of 2 and 3 bedroom units. Some tenants have mobile vouchers with local housing agencies and an 8-unit section of building is master leased (extended in Feb 2023 for 2 years). Tons of capital work put into this building - new roof (APO 2018); new heating systems; porch removals; nearly 50 units turned over; and much more. Offering Memorandum, Rent Roll, and Capital Expense list in attachments.

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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 2024-02-28T09:05:09.773.
www.nrgrealestate.com/homes/136720188
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216 Pearl St Springfield, MA 01105

  • Price: $5,500,000
  • Status: Active
  • On Site: Days
  • Updated: 64 min ago
  • MLS #: 73076462
0
Beds
52
Baths
0
½ Baths
0.44
Acres
47,980
SQFT
$115
$/SQFT
1914
Built
County:
Hampden
Property Description
ATTENTION APARTMENT INVESTORS!!! 216-226 Pearl Street consists of a total of 52 units (two adjacent buildings of 26 units each). $72k monthly rents (proforma). The building sits in the center of Springfield behind STCC; walking distance to downtown; and conveniently located with easy access to both the 291 and 91 freeways. Consists mostly of 2 and 3 bedroom units. Some tenants have mobile vouchers with local housing agencies and an 8-unit section of building is master leased (extended in Feb 2023 for 2 years). Tons of capital work put into this building - new roof (APO 2018); new heating systems; porch removals; nearly 50 units turned over; and much more. Offering Memorandum, Rent Roll, and Capital Expense list in attachments.
Exterior Features

Covered Spaces 0 Garage YN No Open Parking YN Yes Parking Features Paved Drive Parking Total 36 Spa YN No Waterfront YN No

Interior Features

Basement Interior EntryConcrete Building Area Total 47980 Fireplace YN No Fireplaces Total 0 Foundation Details Other Lead Paint Unknown Rooms Total 99

Property Features

Buyer Agency Compensation 2 Disclosures Broker has an ownership interest in the property. Gross Income 862673 Home Warranty YN No Net Operating Income 452189 Operating Expense 367350 Property Sub Type 5+ Family - 5+ Units Up/Down Senior Community YN No Sewer Public Sewer Tax Annual Amount 29845 Tax Year 2022 Total Actual Rent 2704 Transaction Broker Compensation 1 Water Source Public Year Built Details Actual Zoning RC

Listing information © 2024 MLS Property Information Network. All information is deemed reliable but should be independently verified.
Listing provided courtesy of Zuleika Rivera of CP Property Group, LLC: 413-277-7069.


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 2024-02-28T09:05:09.773.
 
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NRG Real Estate Services, Inc.
813 Williams Street, Suite 211
Longmeadow MA, 01106
Listing courtesy of Zuleika Rivera of CP Property Group, LLC.