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.
This home has been viewed 30 times
Last Checked: May 7th, 2024 at 2:12am (Source: MLS PIN #73076457)
Gross Income: $0
Gross Expenses: $29,845
Net Income Calc: $29,845
CAP Rate: -0.50%
Annual Expenses for 216 Pearl St, Springfield MA 01105
Total Gross Expenses (Calculated)$29,845/year
APOD Available
Heating
Electricity
Water
Gas
Insurance
Sewer
Trash Removal
Repair & Maintenance
Management
Miscellaneous
Real Estate Tax$29,845
Annual Income & Unit Breakdown for 216 Pearl St, Springfield MA 01105
Total Gross Income (Calculated)$0
Unit 1
Rental Income$0
Lease
Bedrooms
Bathrooms
Floor
Levels in Unit
HeatingNo
Rent Includes
General Information for 216 Pearl St, Springfield MA 01105
Listing ID73076457
Property TypeMulti Family / 5+ Family
Price$5,999,900
Style
CitySpringfield
CountyHampden
MLS Area
Neighborhood(s)
Approximate Living Area Total
Approximate Lot Size (Acres)0.99 acres
Total Parking36
Garage Parking
Year Built1914
Year Built Source
Year Renovated
Year Built Details
Water
Sewer
Electric
Hot Water
Roof Material
Basement
Construction Materials
Lot Features
Foundation Area
Foundation Description
Accessible Features
Outdoor Space
ZoningRC
Zoning DetailsOther (See Remarks)
Water Views
Water Views Features
WaterfrontNo
Waterfront Features
Energy Features
Terms
Disclosures for 216 Pearl St, Springfield MA 01105
Lead Paint
UFFI
Living Area Includes Basement
Living Area Disclosure
Building Area Source
Title 5
Exclusions
Disclosures
Financial Data Source
Total Gross Expenses By Broker$367,350
Total Gross Income By Broker$862,673
Total Net Income By Broker$452,189
For Sale By OwnerNo
Short Sale / Forclosure (Bank Owned)
Buyer Agent Compensation2
Facilitator Compensation1
Sub-Agent Compensation
Compensation Based On
Financial Information for 216 Pearl St, Springfield MA 01105
Real Estate Taxes$29,845
Tax Year2022
Assessed Value
Financial Data Source
Total Gross Expenses By Broker$367,350
BostonRealEstate.com Gross Expenses
Total Gross Income By Broker$862,673
BostonRealEstate.com Gross Income
Total Net Income By Broker$452,189
BostonRealEstate.com Gross NOI
CAP Rate (based on Broker info)
CAP Rate (BostonRealEstate.com)-0.50%
Location Information for 216 Pearl St, Springfield MA 01105
Elementary School
Middle School
High School
Neighborhood(s)
MLS Area
Area Amenities
Contact Information for 216 Pearl St, Springfield MA 01105