64 Myrtle Street, Springfield, MA 01105
64 Myrtle Street, Springfield, MA 01105
64 Myrtle Street, Springfield, MA 01105
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BHRE Brad Hutchinson Real Estate

BHRE Brad Hutchinson Real Estate

+1(781) 665-2222
$11,900,000
Est. payment /mo
144,383 SqFt
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UPDATED:

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

Square Footage 144,383 sqft

Price per Sqft $82

MLS Listing ID 73353622

HOA Y/N false

Year Built 1914

Annual Tax Amount $91,275

Tax Year 2025

Lot Size 3.620 Acres

Acres 3.62

Property Description

Actual 7.8% CAP RATE with annual in-place rent increases. Rare portfolio of 3 stabilized, cash-flowing, professionally managed brick properties in Springfield's strong rental market, totaling 127 units: 120 1-bed/1-bath, 7 studios, 3 commercial. 96% REAC score, upgraded mechanicals, on-site laundry, security systems. $270K recently invested in energy-efficiency upgrades (attic insulation, low-flow fixtures, door sealing), boosting NOI. Upside via repurposing underused commercial/office space. Two assets on the National Register of Historic Places (potential tax credits—buyer to verify).64 Myrtle: 39-unit school conversion (5 lofts), roof <7 yrs, Grundfos pumps, 2022 ACV Prestige 6 system w/ dual tanks.11 Acushnet: 24-unit school conversion, roof <10 yrs, 2015 Prestige Triangle Tube system, 100-gal indirect heater.519 Main: 64 units, new water heaters ('22/'23), RUUD AC for commercial, roof <10 yrs.All 3 sold as a portfolio.

Location

State MA

County Hampden

Area Indian Orchard

Zoning R3/B2

Direction Properties are GPS friendly

Exterior

Utilities Available Public Water, Public Sewer, Natural Gas Available

Total Parking Spaces 80

Others

Senior Community false

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Listed by Century 21 AllPoints Realty

NEARBY SCHOOLS & PROPERTIES

BHRE Brad Hutchinson Real Estate

At Brad Hutchinson Real Estate, our main goal is simple: to assist buyers and sellers with making the best, most knowledgeable real estate decisions that are right for you. Whether you’re searching for houses for sale, commercial investment opportunities, or apartments for rent, our independent, committed staff is ready to assist you. We have over 60 years of experience serving clients in and around Melrose and Boston's North Shore.

+1(781) 665-2222

sales@bradhutchinson.com

193 Green Street, Melrose, Massachusetts, 02176, United States

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64 Myrtle Street