Court View Commons 2053 Memorial Dr 24 Unit Apartment Building $2,750,000 ($114,583/Unit) 6.78% Cap Rate Chicopee, MA 01020

Northeast is pleased to present Court View Commons, a 24-unit multifamily property located at 2053 Memorial Drive, Chicopee, Massachusetts.
Court View Commons is comprised of 24 one-bedroom apartment units with tenant-paid electric heat and hot water. The asset has been owned and operated by current ownership for approximately 10 years and is professionally managed by a third-party management company. During the ownership period, the property has undergone in excess of $200,000 in capital improvements, including the replacement of the mansard roof in 2023, upgrades to the fire alarm and emergency lighting systems in 2024, and over $5,000 in new appliances in 2025. In advance of marketing, 10 units were turned over within the past year, with modest interior upgrades completed across all units. The property offers ample off-street parking for residents and visitors, as well as an on-site laundry facility that provides ancillary income.
The property offers a clear value-add opportunity through the ability to increase rents to prevailing market levels. Current average rents of $1,118 per unit are approximately $282 below market, compared to comparable one-bedroom units in Chicopee achieving average rents of approximately $1,400. Court View Commons is located along Chicopee’s primary retail and commercial corridor, providing strong visibility and access to major transportation routes, including Interstates 91 and 391 and the Massachusetts Turnpike (I-90). The location also benefits from proximity to retail services, grocery stores, and regional employment centers, including Westover Air Reserve Base.