69 Winter St 10 Unit Apartment Building $409,000 ($40,900/Unit) 13.54% Cap Rate Springfield, MA 01105

This downtown Springfield investment property offers a $5,500 rent roll. The property consists of a joisted masonry building containing one 3BR apartment, one 5BR apartment, and eight income producing garages that lease at a rate of $150 - $250 per month. Apartments feature a sunroom, and the 5BR apartment also has an office. The apartments are bright with renovated kitchens and a combination of hardwood and laminate flooring. The projected NOI is $55,359 and the cap rate is 13.54%. Located nearby to the Springfield FD Headquarters, the property offers access to major highways I-91, I-291 & I-90 (the Mass Pike); as well as area hospitals (under two miles to Baystate Medical Center and approximately one mile to Mercy Medical Center). The property is situated close to Springfield’s CBD, nearby to MGM Springfield and the Basketball Hall of Fame, within a 30-minute drive time of UMass Amherst and the Five College Area. Springfield is home to major employers including Baystate Health, MassMutual, Big Y Foods, and Smith & Wesson. There are 16 colleges within a 20-mile radius of Springfield, which include 12 private colleges and universities, two public colleges and universities, and two community colleges offering two-year degrees. Bradley International Airport in Hartford, CT is approximately 20 miles south, offering regional, national and international air service. The Springfield MA MSA has a population of over 700,000, and Springfield is the third largest city in Massachusetts.