This property is Off-Market
59 New Ludlow Road
Chicopee, MA 01020 ·
54 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||54||Cap Rate||7%|
|Building Size||58,240 SF||No. Stories||2|
|Property Type||Multifamily||Year Built||1974|
|Property Sub-type||Garden/Low-Rise||Lot Size||2.92 AC|
|Listing ID: 16772948||Date Created: 07/26/2010||Last Updated: 12/30/2010|
The property consists of five multi-family apartment buildings containing 54 units with about 58,240/sf of living space. There 5 1-br units (763/sf) and 49 2-br units (875/sf). The buildings were built about 1974 and are wood framed with brick veneer on lower 1 1/2 exterior and asphalt mansard on the upper section. All the bldgs are 2 1/2 stories. Property can be purchased with Mason Manor, a 48 unit complex located about 1/2 mile from this property.
Modern applances include self-cleaning stoves, frost-free refrigerators, dishwashers, garbage disposals, ceiling fans, a/c, mini blinds, circuit breaker panel in each unit, hard wired smoke detectors in each unit and hallways, intercom buzzer security doors. New 2010 laundry room with all new equipment. Owner pays gas hot water. Tenants pay all own utilities, i.e., heat, electric, a/c and cooking.
Site is located about 1/4 mile off of Memorial Drive (Route 33) which connects to I-90 about 3 miles south which connects to I-91. Access to the site is excellent.. The site is serviced by public water and sewer, natural gas, electric and cable.
- On-site parking for 90+/- cars.
- All roofs were replaced in +/- 2009.
- In 2005 replaced gas hot water heating system with enery efficient heaters.
- All new laundry room in 2010 with six washer/dryers that are owned by complex.
- Apartments considered to be in excellent condition w/8 newly remodeled kitchens.
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