Renovated 6-Unit Apartment
For Sale
$1,350,000
45 Forest St, Lee, MA 01238
Residentially zoned property with renovated units, separate utilities, and public water and sewer.
Property Size7,956 SF
Days on Market50
Property Features for 45 Forest St
General Information
Standard status
Active
Size
7,956 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$6,607
Building Details
Building Size
7,956 SF
Year Built
1900
Listing Agency:
Lamacchia Realty, Inc. - Dalton
Listed By:
Marc Bellora · License #9581950
(413) 418-6415
Source:
Tkgre
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 5:29PM
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 Lamacchia Realty, Inc. - Dalton
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Investment Insights
Based on property information with market context.
This 7,956-square-foot apartment property, built in 1900, contains six units, including a spacious 4BR/2BA residence. Five units have been renovated, while property improvements include a newer roof, updated electrical systems, and newer heating systems. Separate utilities serve the units, and the property includes ample parking.
The building is located at 45 Forest St in Lee, Massachusetts, with access to the Mass Pike, Lee Outlets, and Berkshire attractions. Current operations combine long-term and seasonal rentals, supporting a range of rental arrangements. Residential zoning, public water, and public sewer further define the property’s existing setup.
The building is located at 45 Forest St in Lee, Massachusetts, with access to the Mass Pike, Lee Outlets, and Berkshire attractions. Current operations combine long-term and seasonal rentals, supporting a range of rental arrangements. Residential zoning, public water, and public sewer further define the property’s existing setup.
Key Highlights
- Six‑unit apartment property totaling 7,956 SF
- Five of six units renovated
- Spacious 4BR/2BA unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,726
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,174,520
$2.2M
Cap Rate 7%
$1,553,229
$1.6M
Cap Rate 9%
$1,208,067
$1.2M
Market Conditions
NOI Build-Up for 7,956 SF
Gross rent
$200.5K $25.20/SF
− Vacancy
−$2.8K −$0.35/SF
EGI
$197.7K $24.85/SF
− OpEx
−$89.0K −$11.18/SF
NOI
$108.7K $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%
$2,174,520
Cap Rate 7%
$1,553,229
Cap Rate 9%
$1,208,067
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,726 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,066 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 01238, MA
5,722
Population
3,069
Households
1.9
Avg Household Size
51
Median Age
46%
College-Educated
99%
High-School Grad
27.6 sq mi
ZIP Area
207
Density / Sq Mi
$74,469
Median Household Income
$47,035
Median Earnings
$1,255
Median Rent
$332,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residentially zoned property with renovated units, separate utilities, and public water and sewer.
Where is this apartment building located?
The property is located at 45 Forest St Lee, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six‑unit apartment property totaling 7,956 SF; Five of six units renovated; Spacious 4BR/2BA unit
