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356-364 Belmont Ave 56 Unit Apartment Building $6,600,000 ($117,857/Unit) 7.06% Cap Rate Springfield, MA 01108
Executive Summary
Exclusive opportunity to purchase 56 units In the desirable Forest Park section of Springfield, Ma. Property consists of two 23 unit buildings on the same parcel consisting of 11 studios, 42 one bedrooms, and 3 two bedroom units. Rare opportunity to acquire an asset of this size with off street parking in a building where tenants pay utilities aside from hot water provided by landlord. Units have all had some degree of renovation through current ownership cycle. Presents an opportunity to continue to increase rents and acquire significant scale in a market at a good going in basis. Please reach out to the broker contacts for details rent roll and profit and loss.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,600,000 | Building Class | C |
| Price Per Unit | $117,857 | Lot Size | 0.80 AC |
| Sale Type | Investment | Building Size | 37,121 SF |
| Cap Rate | 7.06% | Average Occupancy | 100% |
| No. Units | 56 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | SR2B1 | ||
| Price | $6,600,000 |
| Price Per Unit | $117,857 |
| Sale Type | Investment |
| Cap Rate | 7.06% |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.80 AC |
| Building Size | 37,121 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1913 |
| Parking Ratio | 1/1,000 SF |
| Zoning | SR2B1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | 550 - 600 |
| 1+1 | 42 | - | 550 - 600 |
| 2+1 | 3 | - | 1,082 |
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Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | SPRI-001235-000000-000077 | Total Assessment | $3,962,500 |
| Land Assessment | $840,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,122,500 | Tax Year | 2025 |
Property Taxes
Parcel Number
SPRI-001235-000000-000077
Land Assessment
$840,000
Improvements Assessment
$3,122,500
Total Assessment
$3,962,500
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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356-364 Belmont Ave
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