Five-Unit Apartment
25 Leonard Ave, Westfield, MA 01085
For Sale
$625,000
Five-unit property with refreshed vacant apartments, separate utilities, parking, and a two-car garage.
Property Size3,576 SF
Days on Market53
Property Features for 25 Leonard Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
off-street parking
garage
basement laundry hookups
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Coldwell Banker Realty
Listed By:
Stephanie Salerno
(860) 204-1955
Source:
Elliman
Added: Sep 19
Changed: Oct 27
Last Checked: Nov 10 at 8:07AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1880, this five-unit apartment property offers a consistent layout across the building, with two bedrooms and one full bath in each residence. Two units are vacant, and both have received updated kitchens, fresh paint, and new flooring. The vacant third-floor apartment adds an open kitchen-to-living arrangement and in-unit laundry.
Separate utilities support straightforward operations, while off-street parking and a two-car garage provide useful site improvements. Basement laundry hookups are also in place. Additional building updates include newer windows and two younger boilers. The property is near Westfield State University, Stanley Park, and downtown Westfield, with a walk score of 66 and a bike score of 48.
Separate utilities support straightforward operations, while off-street parking and a two-car garage provide useful site improvements. Basement laundry hookups are also in place. Additional building updates include newer windows and two younger boilers. The property is near Westfield State University, Stanley Park, and downtown Westfield, with a walk score of 66 and a bike score of 48.
Key Highlights
- Five‑unit apartment property with two bedrooms and one full bath per unit
- Two vacant apartments with updated kitchens, fresh paint, and new flooring
- Third‑floor vacant unit features an open kitchen‑to‑living layout and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,406
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,120
$868.1K
Cap Rate 7%
$620,086
$620.1K
Cap Rate 9%
$482,289
$482.3K
Market Conditions
NOI Build-Up for 3,576 SF
Gross rent
$83.2K $23.28/SF
− Vacancy
−$4.3K −$1.21/SF
EGI
$78.9K $22.07/SF
− OpEx
−$35.5K −$9.93/SF
NOI
$43.4K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,120
Cap Rate 7%
$620,086
Cap Rate 9%
$482,289
Alternative Uses
Best Use
Apartment 5plus
$620.1K
$542.6K – $723.4K
NOI $43,406 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,277 @ 7.0% cap · market cap 24.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
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Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Hampden County, MA
Properties on Market for Apartment buildings in Hampden County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit property with refreshed vacant apartments, separate utilities, parking, and a two-car garage.
Where is this apartment building located?
The property is located at 25 Leonard Ave Westfield, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Five‑unit apartment property with two bedrooms and one full bath per unit; Two vacant apartments with updated kitchens, fresh paint, and new flooring; Third‑floor vacant unit features an open kitchen‑to‑living layout and in‑unit laundry
