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Courthouse Square Apartments 27 Washington St 22 Unit Apartment Building $3,995,000 ($181,591/Unit) 7.47% Cap Rate Westfield, MA 01085
INVESTMENT HIGHLIGHTS
- Attractive Going-In Yield
- Expense Efficiency
- Modernized Asset
- Turnkey, Low-CapEx Profile
- Rent Growth Upside
EXECUTIVE SUMMARY
NPCG is pleased to present the exclusive listing for Courthouse Square Apartments, a 22-unit, turnkey multifamily investment located at 27 Washington Street in Westfield, Massachusetts.
Originally redeveloped in 2012 and meticulously maintained since, the property has benefited from a comprehensive capital improvement plan executed by current ownership since 2020. This is a stabilized asset with minimal near-term capital requirements, offering investors immediate cash flow and operational efficiency.
The investment offers a strong going-in yield with durable in-place cash flow. With tenant-paid utilities (via new heat pumps), modern unit finishes, and a highly walkable downtown location, the asset is well-positioned for long-term ownership with favorable risk-adjusted returns.
Originally redeveloped in 2012 and meticulously maintained since, the property has benefited from a comprehensive capital improvement plan executed by current ownership since 2020. This is a stabilized asset with minimal near-term capital requirements, offering investors immediate cash flow and operational efficiency.
The investment offers a strong going-in yield with durable in-place cash flow. With tenant-paid utilities (via new heat pumps), modern unit finishes, and a highly walkable downtown location, the asset is well-positioned for long-term ownership with favorable risk-adjusted returns.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $3,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $181,591 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.70 AC |
| Cap Rate | 7.47% | Building Size | 34,576 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1899 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | A | ||
| Price | $3,995,000 |
| Price Per Unit | $181,591 |
| Sale Type | Investment |
| Cap Rate | 7.47% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 34,576 SF |
| No. Stories | 2 |
| Year Built | 1899 |
| Opportunity Zone |
Yes |
| Zoning | A |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
1 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | WFLD-000055-000000-000032 | Improvements Assessment | $1,130,300 |
| Land Assessment | $84,200 | Total Assessment | $1,214,500 |
PROPERTY TAXES
Parcel Number
WFLD-000055-000000-000032
Land Assessment
$84,200
Improvements Assessment
$1,130,300
Total Assessment
$1,214,500
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Courthouse Square Apartments | 27 Washington St
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