Longhill Estates

  • Title

    Multifamily Property

  • City

    Springfield, MA

  • Price

    $1,115,000

  • Cap Rate

    9.03%

  • Gross Leasable Area

    14,575

  • No. Units

    18

  • Price/SF

    $76.50

  • Price/Unit

    $61,944

  • No. Stories

    3

  • Year Built

    1920

  • Lot Size

    0.57 AC

Not found amenities.

Northeast Private Client Group is pleased to present the Longhill Estates Apartments, an 18 unit multifamily property located in Springfield, Massachusetts.

The Longhill Estates is comprised of 7-one bedroom, 0-two bedroom, and 2-three bedroom units. Heat and hot water is supplied through a central oil and gas fired system and is included in the rent. Tenants are responsible for their own electric expense. The property is situated on an 0.57 acre parcel which allows ample parking for all tenants in the rear of the property.

Over the past couple years, the property has undergone significant capital improvements which include a newer oil fired boiler (2016), on-demand gas fired hot water heater (2015), new flat rubber roof (2016) and new vinyl replacement windows throughout the years. Last year the main electrical services at the building was updated (2017). There is also a central fire alarm system which is up to code with city Fire Marshal standards. The property has the ability for laundry hookup in the basement, however it is not currently being utilized. An investor can realize upside potential through raising rents to market level and capturing additional income from a laundry facility build out.

Springfield, Hampden County, MA

33 Longhill Street