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81-85 Walnut St
Springfield, MA 01105
Walnut Apartments · Multifamily Property For Sale
·
16 Units
Investment Highlights
- Secure Asset with Rent Growth
- Transit Oriented Location
- Recent Capital Improvements
- Outstanding Location
- Attractive Unit Mix
- Higher Education Presence
Executive Summary
Horvath & Tremblay is pleased to present the sale of the multi-family investment property located at 81-85 Walnut Street in Springfield, Massachusetts (the “Property”). The offering consists of a four-story multifamily building and contains a total of sixteen (16) units, comprised of eight (8), 4-Bedroom/2-Bathroom units, four (4), 3-Bedroom/1-Bathroom units and four (4), 2-Bedroom/1-Bathroom units with 19,196 square feet of living area in 23,935 square feet of gross area on 0.55-acres of land. The Property is situated in the Old Hill neighborhood of Springfield and is just 1 mile from the heart of Downtown Springfield with excellent access to all the amenities the city has to offer. Springfield is the economic center of western Massachusetts and features a walkable downtown with a plethora of employment and entertainment opportunities. High profile attractions include the new MGM Hotel & Casino, the MassMutual Center, and the Naismith Basketball Hall of Fame. Springfield is also home to the Commonwealth of Massachusetts' largest Fortune 100 company, MassMutual Financial Group three large area hospitals and several colleges and universities, all of which create employment opportunities and drive people to the area.
Property Facts
| Price Per Unit | $125,000 | Lot Size | 0.57 AC |
| Sale Type | Investment | Building Size | 23,935 SF |
| Cap Rate | 8.44% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1906 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | B1 - higher density area for a mix of business and industrial uses | ||
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 8.44% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 23,935 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1906 |
| Parking Ratio | 0.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B1 - higher density area for a mix of business and industrial uses |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Vintage Building
- Smoke Detector
Property Taxes
| Parcel Number | SPRI-011952-000000-000199 | Improvements Assessment | $1,280,700 |
| Land Assessment | $240,000 | Total Assessment | $1,520,700 |
Property Taxes
Parcel Number
SPRI-011952-000000-000199
Land Assessment
$240,000
Improvements Assessment
$1,280,700
Total Assessment
$1,520,700
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