Luxury Residential Group: 216 Pearl St, Springfield, MA

Property Description

ATTENTION APARTMENT INVESTORS!!! 216-226 Pearl Street consists of a total of 52 units (two adjacent buildings of 26 units each). $72k monthly rents (proforma). The building sits in the center of Springfield behind STCC; walking distance to downtown; and conveniently located with easy access to both the 291 and 91 freeways. Consists mostly of 2 and 3 bedroom units. Some tenants have mobile vouchers with local housing agencies and an 8-unit section of building is master leased (extended in Feb 2023 for 2 years). Tons of capital work put into this building - new roof (APO 2018); new heating systems; porch removals; nearly 50 units turned over; and much more. Offering Memorandum, Rent Roll, and Capital Expense list in attachments.

offered at

$5,500,000

Listing ID: 73076462
Full Baths: 52
Living Area: 47,980 sqft 4,457 m² Convert
Lot Size: 19,140 sqft 1,778 m² Convert
Acres: 0.44

Additional Details

Type: Multi-Family, 5+ Family - 5+ Units Up/Down

Zip Code: 01105

Living Levels: 4

Parking

Parking: Paved Drive

Parking Spaces: 36

Rooms and Dimensions

Total Units: 52

Total Floors: 4

Total Rooms: 99

LRG Boston

(617) 233-5800

216 Pearl St

Springfield, MA