Front Street Apartments

  • Title

    Multifamily Property for Sale

  • City

    Chicopee, MA

  • Price

    $1,195,000

  • Cap Rate

    6.5%

  • Gross Leasable Area

    12,600 SF

  • No. Units

    18

  • Price/SF

    $94.84

  • Price/Unit

    $66,389

  • No. Stories

    3

  • Year Built

    1895

Not found amenities.

Northeast Private Client Group is pleased to present the Front Street Apartments, an 18 unit multifamily property located in Chicopee, Massachusetts.

The Front Street Apartments are comprised of two adjacent parcels at the addresses of 590 Front Street and 21 Cyman Drive. The portfolio consists of all one bedrooms with the Front Street building containing twelve units and Cyman Drive containing six units. Tenants are responsible for their own heat which is electric baseboard, as well as their general electric expense. The landlord supplies hot water through a gas fired system. The property features ample parking for tenants through a shared lot between the buildings, as well as a laundry room for added income.

The property has historically run at high occupancy levels. A new owner can realize upside through raising the low rents to market levels.

Chicopee is located on the Connecticut River and has the second largest population in Western Massachusetts after Springfield. Nicknamed the “Crossroads of New England”, it is conveniently located among a number of metropolitan areas and their transportation networks. Chicopee is a service economy with a mixture of small and local businesses as well as national chains.

Chicopee, Hampden County, MA

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