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2053 Memorial Dr Chicopee, MA 01020

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Multifamily property with value-add opportunity in a prime location.

Property size:
13,200 SF

Property Features for 2053 Memorial Dr

General Information

Standard status
Active
Size
13,200 SF

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Listing Contact
Taylor Perun
Source: Crexi

Listing Agency: NorthEast Private Client Group Shelton Listing Agent: Taylor Perun

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

24-Unit Multifamily Property in Chicopee

Court View Commons is a 24-unit multifamily property located in Chicopee, Massachusetts. The property consists of 24 one-bedroom apartment units. Tenants are responsible for paying their electric heat and hot water. The property has been under current ownership for approximately 10 years and is professionally managed. Over $200,000 in capital improvements have been made during the ownership period, including replacement of the mansard roof in 2023, upgrades to the fire alarm and emergency lighting systems in 2024, and over $5,000 in new appliances in 2025. In the past year, 10 units were turned over, with modest interior upgrades completed across all units. The property provides ample off-street parking for residents and visitors, as well as an on-site laundry facility that generates ancillary income. The property offers a value-add opportunity through the ability to increase rents to prevailing market levels. The current average rents are $1,118 per unit, which is approximately $282 below market compared to comparable one-bedroom units in Chicopee achieving average rents of approximately $1,400. Court View Commons is located along Chicopee’s primary retail and commercial corridor, providing strong visibility and access to major transportation routes, including Interstates 91 and 391 and the Massachusetts Turnpike (I-90). The location also benefits from proximity to retail services, grocery stores, and regional employment centers, including Westover Air Reserve Base. The property size is 13,200 square feet.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Chicopee
County
Hampden
State
Massachusetts
Longitude
-72.5716909
Latitude
42.2134933

FAQs

What type of property is this?
Apartment building - Multifamily property with value-add opportunity in a prime location.
Where is this apartment building located?
The property is located at 2053 Memorial Dr Chicopee, MA.
What are key features of this property?
This property features: - Significant value-add opportunity through rent increases, with current rents $282 below market average.; - Recent capital improvements exceeding $200,000, including new roof (2023), fire alarm/emergency lighting upgrades (2024), and new appliances (2025).; - Professionally managed with stable ownership for approximately 10 years.
More about this property
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