Two-Property Apartment Building
For Sale
$1,275,000
16 & 18 North Summer St, Adams, MA 01220
Two apartment buildings totaling nine renovated units with off-street parking are offered for sale in Adams, Massachusetts.
Property Size7,464 SF
Price / SF$170.82
Days on Market145
Property Features for 16 & 18 North Summer St
General Information
Standard status
Active
Size
7,464 SF
Property subtype
Multi Family
Zoning
Multi
Taxes and HOA fees
Annual Taxes
$7,522
Building Details
Building Size
7,464 SF
Year Built
1900
Listing Agency:
WILLIAM PITT SOTHEBY'S - LENOX
Listed By:
Carrie Wright · License #9574935
(413) 212-1865
Source:
413realestate
Added: May 29
Changed: Oct 15
Last Checked: Oct 19 at 3:57AM
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
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Investment Insights
Based on property information with market context.
This for-sale portfolio includes two apartment buildings, 16 & 18 North Summer St, totaling nine units. The property is described as fully renovated throughout, with updates noted for the roof, boilers, hot water systems, windows, electrical systems, and modern interior finishes. Kitchens have been remodeled with newer cabinetry and updated appliances, and the unit mix includes two-bedroom apartments arranged as a combination of garden-style and townhouse-style layouts. Off-street parking is also included.
The buildings are positioned for convenient access to downtown Adams and the Ashuwillticook Rail Trail. The public remarks also note proximity to regional cultural and outdoor destinations in the Berkshires, including Mass MoCA and The Clark Art Institute, as well as Mount Greylock State Reservation, Greylock Glen, and the Thunderbolt Ski Trail.
As presented, this is a turnkey residential income offering with ongoing rental activity, and the remarks additionally mention the potential for short-term rental income, subject to local ordinances.
The buildings are positioned for convenient access to downtown Adams and the Ashuwillticook Rail Trail. The public remarks also note proximity to regional cultural and outdoor destinations in the Berkshires, including Mass MoCA and The Clark Art Institute, as well as Mount Greylock State Reservation, Greylock Glen, and the Thunderbolt Ski Trail.
As presented, this is a turnkey residential income offering with ongoing rental activity, and the remarks additionally mention the potential for short-term rental income, subject to local ordinances.
Key Highlights
- Two apartment buildings totaling nine renovated units in Adams, MA
- 16 & 18 North Summer Street: nine fully renovated units with 2‑bedroom apartments
- Updates include newer roof, boilers, hot water, windows, and electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,003
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,040,060
$2.0M
Cap Rate 7%
$1,457,186
$1.5M
Cap Rate 9%
$1,133,367
$1.1M
Market Conditions
NOI Build-Up for 7,464 SF
Gross rent
$188.1K $25.20/SF
− Vacancy
−$2.6K −$0.35/SF
EGI
$185.5K $24.85/SF
− OpEx
−$83.5K −$11.18/SF
NOI
$102.0K $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 Rate 5%
$2,040,060
Cap Rate 7%
$1,457,186
Cap Rate 9%
$1,133,367
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,003 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $152,982 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 01220, MA
8,166
Population
4,563
Households
1.8
Avg Household Size
45
Median Age
25%
College-Educated
93%
High-School Grad
22.9 sq mi
ZIP Area
357
Density / Sq Mi
$56,285
Median Household Income
$44,708
Median Earnings
$930
Median Rent
$199,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two apartment buildings totaling nine renovated units with off-street parking are offered for sale in Adams, Massachusetts.
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 $1,275,000.
What are key features of this property?
This property features: Two apartment buildings totaling nine renovated units in Adams, MA; 16 & 18 North Summer Street: nine fully renovated units with 2‑bedroom apartments; Updates include newer roof, boilers, hot water, windows, and electrical systems
