Downtown Westfield Multifamily
For Sale
$800,000
12 Franklin Avenue, Westfield, MA 01085
Five residential units are set on a parcel with off-street parking and tenant-paid gas and metered electricity.
Property Size4,503 SF
Lot Size0.20 Acres
Price / SF$177.66
Days on Market81
Property Features for 12 Franklin Avenue
General Information
Standard status
Active
Size
4,503 SF
Total Parking Spaces
5
Lot size
0.20 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
5
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Michael Bradley
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: May 11
Changed: Jul 27
Last Checked: Jul 29 at 12:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
12 Franklin Avenue is a multifamily property containing three 2-bedroom/1-bath units and two 1-bedroom/1-bath units. The building provides 4,503 square feet of gross living area within 7,013 square feet of gross area, and it includes five off-street parking spaces for residents.
The property is positioned in downtown Westfield with direct access to the city’s central business district, neighborhood retail corridors, and surrounding residential neighborhoods. A primary demand anchor is Westfield State University, which supports consistent renter demand from students, faculty, and staff.
Utility responsibilities are separately metered: tenants are responsible for gas-powered heat and hot water, as well as electricity. The landlord is responsible for city water and sewer.
The property is positioned in downtown Westfield with direct access to the city’s central business district, neighborhood retail corridors, and surrounding residential neighborhoods. A primary demand anchor is Westfield State University, which supports consistent renter demand from students, faculty, and staff.
Utility responsibilities are separately metered: tenants are responsible for gas-powered heat and hot water, as well as electricity. The landlord is responsible for city water and sewer.
Key Highlights
- 1890‑built multi‑family with 3 two‑bedroom/1‑bath units and 2 one‑bedroom/1‑bath units
- 4,503 sq ft gross living area in a 7,013 sq ft gross area
- 0.20‑acre parcel with 5 off‑street parking spaces
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.8k | $23.28 |
| − Vacancy | −$5.5k | −$1.21 |
| EGI | $99.4k | $22.07 |
| − OpEx | −$44.7k | −$9.93 |
| NOI | $54.7k | $12.14 |
4,503 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$780.8K
$683.2K – $911.0K
NOI $54,658 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.24M
NOI $194,270 @ 7.0% cap · market cap 24.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five residential units are set on a parcel with off-street parking and tenant-paid gas and metered electricity.
Where is this apartment building located?
The property is located at 12 Franklin Avenue Westfield, MA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1890‑built multi‑family with 3 two‑bedroom/1‑bath units and 2 one‑bedroom/1‑bath units; 4,503 sq ft gross living area in a 7,013 sq ft gross area; 0.20‑acre parcel with 5 off‑street parking spaces
