Two-Property Apartment Building
16 & 18 North Summer St Adams, MA 01220
16 & 18 North Summer St, Adams, MA, 01220
$1,499,000
For Sale
$1,499,000
Two apartment buildings totaling nine renovated units with off-street parking are offered for sale in Adams, Massachusetts.
Property Size7,464 SF
Price / SF$200.83
Days on Market54
Property Features for 16 & 18 North Summer St
General Information
- Standard status
- Active
- Size
- 7,464 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing agency
WILLIAM PITT SOTHEBY'S - LENOX
(413) 212-1865
Listed by
Carrie Wright · License #9574935
(413) 212-1865
Source
413realestate
Added: May 29 Updated: Jul 21 at 2:28PM Checked: Jul 21 at 2:28PM
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 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
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 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $152,982 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
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 $1,499,000.
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
