Imperial & Elizabeth Manor Portfolio 2 Multifamily Properties Offered at $18,995,000 in Multiple Locations

Chozick Realty, Inc. is pleased to present the exclusive offering of Elizabeth Manor and Imperial Apartments, two well-located multifamily communities in Agawam and West Springfield, Massachusetts, totaling 115 apartment units. These properties offer a rare opportunity to acquire a critical mass of units in highly desirable Western Massachusetts rental markets, with substantial recent capital improvements and significant upside potential through continued unit renovations and operational efficiencies.
Elizabeth Manor Located at 238 Maple Street, Agawam, MA, Elizabeth Manor is a 40-unit community situated on 1.7 acres. The unit mix consists of 39 two-bedroom apartments and one three-bedroom apartment. Recent improvements include brand-new double-hung vinyl windows and wall-mounted mini-split HVAC systems in all units. Current ownership has renovated 17 units with upgraded kitchens featuring granite countertops, stainless steel appliances, new flooring, and updated bathrooms.
Imperial Apartments Located on River Street in West Springfield, MA, Imperial Apartments comprises three buildings totaling 75 units on 0.59 acres. The unit mix includes 18 one-bedroom apartments and 57 two-bedroom apartments. Like Elizabeth Manor, all units feature new double-hung vinyl windows and wall-mounted mini-split HVAC systems. Ownership has completed 53 full interior renovations with the same high-quality finishes, including granite countertops, stainless steel appliances, new flooring, and modernized bathrooms. Select units also feature in-unit washer/dryers.
Both properties have benefited from significant recent capital expenditures, including new roofs, new doors, common area upgrades, playground installation at Elizabeth, intercom system replacement, and parking lot improvements. All units are currently master-metered for electricity, with landlord-paid utilities. However, there is a substantial opportunity to reduce operating expenses through a solar program (details included in the offering memorandum), which has not yet been implemented by current ownership. The properties are within a 5 minute drive from each other, making management and cost efficiencies easy.
With 70 upgraded units across both properties, an incoming investor has the immediate ability to increase NOI by renovating the remaining apartments to achieve market premiums. Coupled with the already-completed building system upgrades, this offering presents a low-maintenance, value-add investment with strong rent growth potential in established, high-demand rental submarkets.