8-Unit Apartment
For Sale
$1,347,500
Pending
14 Highland Ave, Pittsfield, MA 01201
Eight-unit multifamily property with central A/C in each unit and separate utilities.
Property Size8,608 SF
Days on Market77
Property Features for 14 Highland Ave
General Information
Standard status
Pending
Size
8,608 SF
Property subtype
Multi Family
Zoning
Residential
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,988
Amenities
central A/C
private dedicated parking
Building Details
Building Size
8,608 SF
Year Built
2008
Tenancy
Multi
Listing Agency:
STONE HOUSE PROPERTIES, LLC
(413) 822-1008
Listed By:
Timothy Gallagher · License #9573698
(413) 822-1008
Source:
413realestate
Added: May 29
Changed: Aug 8
Last Checked: Aug 12 at 3:33AM
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 STONE HOUSE PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This clean, well-maintained multifamily property features eight total units with separate utilities. Each unit is equipped with central A/C. The building also provides private, dedicated tenant parking.
Located at 14 Highland Ave in Pittsfield, MA, the property is described as a five-minute walk to the lake, with easy access to public transit. The public remarks also note proximity to major hospitals, large employers, and shopping.
The property is offered for sale as an income-focused 8-unit building with tenant parking and utility separation already in place.
Located at 14 Highland Ave in Pittsfield, MA, the property is described as a five-minute walk to the lake, with easy access to public transit. The public remarks also note proximity to major hospitals, large employers, and shopping.
The property is offered for sale as an income-focused 8-unit building with tenant parking and utility separation already in place.
Key Highlights
- 8‑unit multifamily property built in 2008
- Each unit has central A/C
- Units feature separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,637
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,352,740
$2.4M
Cap Rate 7%
$1,680,529
$1.7M
Cap Rate 9%
$1,307,078
$1.3M
Market Conditions
NOI Build-Up for 8,608 SF
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.
Gross rent
$216.9K $25.20/SF
− Vacancy
−$3.0K −$0.35/SF
EGI
$213.9K $24.85/SF
− OpEx
−$96.2K −$11.18/SF
NOI
$117.6K $13.67/SF
Area
Berkshire County, MA
Vacancy
1.40%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,352,740
Cap Rate 7%
$1,680,529
Cap Rate 9%
$1,307,078
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,637 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,430 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
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 - Eight-unit multifamily property with central A/C in each unit and separate utilities.
Where is this apartment building located?
The property is located at 14 Highland Ave Pittsfield, MA.
What is the asking price?
The asking price for this property is $1,347,500.
What are key features of this property?
This property features: 8‑unit multifamily property built in 2008; Each unit has central A/C; Units feature separate utilities
