Three-Unit Property with Updated
New
For Sale
$464,000
34 Nonotuck Ave, Chicopee, MA 01013
A vacant, renovated first-floor residence complements two additional apartments and recent building improvements.
Property Size2,795 SF
Lot Size0.08 Acres
Price / SF$166.01
Days on Market5
Property Features for 34 Nonotuck Ave
General Information
Standard status
Active
Size
2,795 SF
Lot size
0.08 Acres
Property subtype
3 Family
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Amenities
laundry hookups
yard space
Building Details
Year Built
1920
Stories
3
Listing Agency:
Lock and Key Realty
Listed By:
Jordan Healy
(413) 717-0635
Source:
Lockandkeyre
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 24 at 6:53PM
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 Lock and Key Realty
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Investment Insights
Based on property information with market context.
This 1920-built triplex contains 2,795 square feet of living area, with six bedrooms and three full bathrooms across three apartments. The unoccupied first-floor unit has two bedrooms, a living and dining room, an eat-in kitchen, and updated bathroom finishes; pocket doors allow the dining room to be separated. The second-floor apartment also has two bedrooms and a full bath, while the third-floor unit includes two bedrooms, a living room, a kitchen, and an updated bath. The property occupies a 3,485-square-foot lot.
Recent work includes a roof, water heaters, an owner’s panel, and a front porch. Other features include vinyl siding, baseboard heat, a full basement, yard areas at the front and side, and laundry hookups. Washer and dryer appliances are included in the first- and third-floor units. The second-floor apartment is occupied and functional, with hardwood flooring beneath the carpeted rooms.
Recent work includes a roof, water heaters, an owner’s panel, and a front porch. Other features include vinyl siding, baseboard heat, a full basement, yard areas at the front and side, and laundry hookups. Washer and dryer appliances are included in the first- and third-floor units. The second-floor apartment is occupied and functional, with hardwood flooring beneath the carpeted rooms.
Key Highlights
- Three‑unit property with 2,795 square feet of living area
- Six bedrooms and three full bathrooms
- Vacant first‑floor apartment with updated kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,608
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,160
$732.2K
Cap Rate 7%
$522,971
$523.0K
Cap Rate 9%
$406,756
$406.8K
Market Conditions
NOI Build-Up for 2,795 SF
Gross rent
$55.3K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$52.3K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.6K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,160
Cap Rate 7%
$522,971
Cap Rate 9%
$406,756
Alternative Uses
Best Use
Multifamily LT 5
$523.0K
$457.6K – $610.1K
NOI $36,608 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$484.7K
$424.1K – $565.4K
NOI $33,926 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,583 @ 7.0% cap · market cap 25.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
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Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A vacant, renovated first-floor residence complements two additional apartments and recent building improvements.
Where is this triplex located?
The property is located at 34 Nonotuck Ave Chicopee, MA.
What is the asking price?
The asking price for this property is $464,000.
What are key features of this property?
This property features: Three‑unit property with 2,795 square feet of living area; Six bedrooms and three full bathrooms; Vacant first‑floor apartment with updated kitchen and bathroom
