4-Unit Multifamily
New
For Sale
$555,000
1039-1041 Central St, Palmer, MA 01069
Three residences are occupied, with one vacant unit available for immediate occupancy.
Property Size2,328 SF
Days on Market7
Property Features for 1039-1041 Central St
General Information
Standard status
Active
Size
2,328 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,908
Amenities
security system
on-site laundry
off-street parking
Building Details
Building Size
2,328 SF
Year Built
1870
Stories
4
Units
4
Tenancy
Multi
Listed By:
The Merrill Group
(413) 478-8354
Source:
Elliman
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 4 at 11:49AM
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 The Merrill Group
Investment Insights
Based on property information with market context.
Built in 1870, this four-unit multifamily property has three occupied residences and one vacant unit. Recent updates extend to all four units; additional improvements include a newer roof, updated mechanical systems, and a hardwired security system. Each unit has electric heat and separate utility arrangements. Laundry facilities are located in the basement, and off-street parking is available. The property is a short drive from the Mass Pike.
Key Highlights
- Four‑unit property with three occupied units and one vacant unit
- All four units have been recently updated
- Separate utilities and electric heat in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,491
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,820
$609.8K
Cap Rate 7%
$435,586
$435.6K
Cap Rate 9%
$338,789
$338.8K
Market Conditions
NOI Build-Up for 2,328 SF
Gross rent
$46.1K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.6K $18.71/SF
− OpEx
−$13.1K −$5.61/SF
NOI
$30.5K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,820
Cap Rate 7%
$435,586
Cap Rate 9%
$338,789
Alternative Uses
Best Use
Multifamily LT 5
$435.6K
$381.1K – $508.2K
NOI $30,491 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$403.7K
$353.2K – $471.0K
NOI $28,258 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,436 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 01069, MA
8,428
Population
4,192
Households
2
Avg Household Size
47
Median Age
25%
College-Educated
86%
High-School Grad
28.1 sq mi
ZIP Area
300
Density / Sq Mi
$79,725
Median Household Income
$50,341
Median Earnings
$929
Median Rent
$251,300
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?
Quadplex - Three residences are occupied, with one vacant unit available for immediate occupancy.
Where is this quadplex located?
The property is located at 1039-1041 Central St Palmer, MA.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Four‑unit property with three occupied units and one vacant unit; All four units have been recently updated; Separate utilities and electric heat in each unit
