1282-1292 S Main St 12 Unit Apartment Building $2,000,000 ($166,667/Unit) 9.90% Cap Rate Palmer, MA 01069

The Palmer 12-Unit Portfolio presents the opportunity to acquire a 12-unit multifamily asset in Palmer, Massachusetts, positioned within the Pioneer Valley region of Western Massachusetts. The property consists of three two-story wood-frame apartment buildings situated on approximately 1.01 acres and includes a bedroom-heavy unit mix of eight four-bedroom units, two three-bedroom units, and two two-bedroom units, totaling 42 bedrooms. This configuration provides exposure to larger household demand that is less common than traditional one- and two-bedroom inventory throughout the area.
The asset is currently generating $286,128 in gross scheduled rent and a net operating income of $198,435, reflecting a 9.9% capitalization rate at the $2,000,000 asking price. Tenants are responsible for all utilities, including heat and hot water, while owner expenses remain limited to taxes, insurance, water and sewer, trash removal, common area electric, and hot water tank rentals. Separately metered units and tenant-paid utilities support operational efficiency and expense control.
The property offers additional upside through lease-up of a currently available four-bedroom unit, continued rent adjustments on numerous month-to-month tenancies, and implementation of ancillary income strategies already identified within the offering. Ownership has renovated units as they become available, incorporating luxury vinyl plank flooring, refinished hardwood floors, fresh paint, and updated kitchens and bathrooms.
Palmer benefits from convenient regional connectivity via Routes 20, 32, and 181 and is located less than two miles from Exit 63 of the Massachusetts Turnpike (I-90). The property is approximately 12 miles east of Springfield and 30 miles west of Worcester, providing access to major employment centers and regional transportation corridors. Local employers, established residential neighborhoods, and limited new multifamily supply support ongoing rental housing demand in the market.