Six-Unit Apartment
For Sale
$345,000
37 Melville Street, Pittsfield, MA 01201
Downtown property with studio layouts, vinyl siding, and individually metered electric service.
Property Size2,260 SF
Price / SF$152.65
Days on Market218
Property Features for 37 Melville Street
General Information
Standard status
Active
Size
2,260 SF
Total Parking Spaces
1
Property subtype
MultiFamily
Units
Unit Mix
6 x studio
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,755
Amenities
True
Electric, Nat Gas, Forced Air, Yes
6
6.00
7.00
Yes
Range, Refrigerator
Blue
Building Details
Year Built
1880
Construction
vinyl siding
Listing Agency:
NOCHER REALTY
Listed By:
Cory Evangelisto · License #9551763
(413) 358-3056
Source:
Compass
Added: Mar 17
Changed: Oct 16
Last Checked: Oct 19 at 8:30AM
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 NOCHER REALTY
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Investment Insights
Based on property information with market context.
Built in 1880, this 2,260-square-foot apartment property contains six studio units. The building has vinyl siding, and each apartment is served by separate electricity, supporting individually allocated electric service.
The property is in downtown Pittsfield, with shopping and restaurants located nearby. Its six-unit configuration and studio apartment mix define the existing residential income profile.
The property is in downtown Pittsfield, with shopping and restaurants located nearby. Its six-unit configuration and studio apartment mix define the existing residential income profile.
Key Highlights
- Six‑unit apartment property in downtown Pittsfield
- Six studio apartments within 2,260 square feet
- Separate electricity for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,885
Cap Rate
8.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,700
$617.7K
Cap Rate 7%
$441,214
$441.2K
Cap Rate 9%
$343,167
$343.2K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$57.0K $25.20/SF
− Vacancy
−$797 −$0.35/SF
EGI
$56.2K $24.85/SF
− OpEx
−$25.3K −$11.18/SF
NOI
$30.9K $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%
$617,700
Cap Rate 7%
$441,214
Cap Rate 9%
$343,167
Alternative Uses
Best Use
Apartment 5plus
$441.2K
$386.1K – $514.8K
NOI $30,885 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$661.7K
$579.0K – $772.0K
NOI $46,321 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,814
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
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?
Apartment building - Downtown property with studio layouts, vinyl siding, and individually metered electric service.
Where is this apartment building located?
The property is located at 37 Melville Street Pittsfield, MA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Six‑unit apartment property in downtown Pittsfield; Six studio apartments within 2,260 square feet; Separate electricity for each unit
