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55 Crystal St 11 Unit Apartment Building $1,995,000 ($181,364/Unit) 9.60% Cap Rate Lenox Dale, MA 01242
EXECUTIVE SUMMARY
Perched atop a gentle hill with distant Berkshire views, this distinguished former Lenox school building known as ''Crystal Hill'' has been thoughtfully converted into 10 residential apartments plus one occupied office space. The historic masonry structure combines character and stability with modern updates, including hardwood floors, spacious layouts, and separate hot water and electric meters for each unit. Strong rental income and solid cap rate make this an attractive investment in one of the county's most sought-after towns. Set on two scenic acres, the property offers ample parking, coin-operated laundry, three storage rooms, and a boiler room. Capital improvements include a Simplex fire alarm system (2014), roof replacements (2015 & 2016), apartment upgrades (2019)
a new driveway (2021), and fresh exterior paint (2022).
Just minutes from downtown Lenox, this rare offering combines income stability, long-term appreciation potential, and timeless Berkshire charm, an opportunity not to be missed.
a new driveway (2021), and fresh exterior paint (2022).
Just minutes from downtown Lenox, this rare offering combines income stability, long-term appreciation potential, and timeless Berkshire charm, an opportunity not to be missed.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$219,600
|
$18.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$219,600
|
$18.92
|
| Taxes |
$9,213
|
$0.79
|
| Operating Expenses |
$18,800
|
$1.62
|
| Total Expenses |
$28,013
|
$2.41
|
| Net Operating Income |
$191,587
|
$16.50
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $219,600 |
| Annual Per SF | $18.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $219,600 |
| Annual Per SF | $18.92 |
| Taxes | |
|---|---|
| Annual | $9,213 |
| Annual Per SF | $0.79 |
| Operating Expenses | |
|---|---|
| Annual | $18,800 |
| Annual Per SF | $1.62 |
| Total Expenses | |
|---|---|
| Annual | $28,013 |
| Annual Per SF | $2.41 |
| Net Operating Income | |
|---|---|
| Annual | $191,587 |
| Annual Per SF | $16.50 |
PROPERTY FACTS
| Price | $1,995,000 | Building Class | B |
| Price Per Unit | $181,364 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 11,608 SF |
| Cap Rate | 9.60% | Average Occupancy | 82% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2019 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-15 - Residential/ Multi | ||
| Price | $1,995,000 |
| Price Per Unit | $181,364 |
| Sale Type | Investment |
| Cap Rate | 9.60% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.00 AC |
| Building Size | 11,608 SF |
| Average Occupancy | 82% |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2019 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | R-15 - Residential/ Multi |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Yard
- Lawn
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
PROPERTY TAXES
| Parcel Number | LENO-000039-000074 | Total Assessment | $1,018,000 |
| Land Assessment | $183,800 | Annual Taxes | $9,213 ($0.79/SF) |
| Improvements Assessment | $834,200 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
LENO-000039-000074
Land Assessment
$183,800
Improvements Assessment
$834,200
Total Assessment
$1,018,000
Annual Taxes
$9,213 ($0.79/SF)
Tax Year
2025
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55 Crystal St
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