Adams Multifamily Investment
16 & 18 North Summer St Adams, MA 01220
16 & 18 North Summer St, Adams, MA, 01220
$1,375,000
For Sale
$1,375,000
Nine updated units near downtown Adams and Ashuwillticook Rail Trail.
Property Size7,464 SF
Price / SF$184.22
Days on Market98
Property Features for 16 & 18 North Summer St
General Information
- Standard status
- Active
- Size
- 7,464 SF
- Property subtype
- MultiFamily
Building Details
- Year Built
- 1900
Listing agency
WILLIAM PITT SOTHEBY'S - LENOX
(413) 717-0635
Listed by
Nick Geranios
(413) 822-6598
Source
Lockandkeyre
Added: Apr 16 Updated: Jul 10 at 1:13PM Checked: Jul 21 at 3:35AM
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 WILLIAM PITT SOTHEBY'S - LENOX
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire two apartment buildings, totaling nine units, in a convenient Adams location. The properties have been thoughtfully updated throughout, featuring a newer roof, boilers, hot water systems, windows, and electrical systems, as well as modern finishes. The remodeled kitchens include quartz countertops, newer cabinetry, and updated appliances. One building, located at 16 North Summer Street, Adams, contains six units, offering immediate value potential for investors looking to maximize rental income. These units are solid and updated, presenting a strong foundation for a portfolio. The other building, located at 18 North Summer Street, features three fully renovated two-bedroom units with well-designed living spaces. This results in a turnkey component with strong, healthy rental income already in place. The property includes a mix of garden-style and townhouse-style units, appealing to a variety of tenants, and offers the added convenience of off-street parking. Ideally located near downtown Adams and the Ashuwillticook Rail Trail, residents enjoy easy access to local dining, shopping, and outdoor recreation. It is also just minutes away from cultural destinations including Mass MoCA and The Clark Art Institute, as well as Mount Greylock State Reservation, Greylock Glen, and the Thunderbolt Ski Trail, offering year-round lifestyle appeal in the Berkshires. The property size is 7464 square feet.
Key Highlights
- Two buildings totaling nine units, offering immediate income potential.
- Fully renovated units feature modern finishes, including quartz/marble countertops, newer cabinetry, and updated appliances.
- Newer roof, boilers, hot water systems, windows, and electrical systems reduce future maintenance costs.
Local 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 | $188.1k | $25.20 |
| − Vacancy | −$2.6k | −$0.35 |
| EGI | $185.5k | $24.85 |
| − OpEx | −$83.5k | −$11.18 |
| NOI | $102.0k | $13.67 |
7,464 SF · lease $25.20/SF/yr · vacancy 1.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,003 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $152,982 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Nine updated units near downtown Adams and Ashuwillticook Rail Trail.
Where is this apartment building located?
The property is located at 16 & 18 North Summer St Adams, MA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two buildings totaling nine units, offering immediate income potential.; Fully renovated units feature modern finishes, including quartz/marble countertops, newer cabinetry, and updated appliances.; Newer roof, boilers, hot water systems, windows, and electrical systems reduce future maintenance costs.
