Victorian 9-Unit Multifamily
For Sale
$995,000
465 Chapel, Lee, MA 01238
Nine fully occupied residential units in a Victorian multifamily building with on-site laundry and parking.
Property Size5,690 SF
Lot Size2.50 Acres
Price / SF$174.87
Days on Market278
Property Features for 465 Chapel
General Information
Standard status
Active
Size
5,690 SF
Total Parking Spaces
16
Lot size
2.50 Acres
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
9
Amenities
coin-operated washer and dryer
storage shed
Building Details
Year Built
1880
Construction
Victorian
Tenancy
Multi
Listing Agency:
STONE HOUSE PROPERTIES,LLC
Listed By:
Timothy Gallagher · License #9573698
(413) 822-1008
Source:
Barnbrookrealty
Added: Jan 11
Changed: Oct 15
Last Checked: Oct 16 at 9:04AM
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 STONE HOUSE PROPERTIES,LLC
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Investment Insights
Based on property information with market context.
This Victorian multifamily property includes nine residential units configured as two efficiency one-bedroom units, one two-bedroom unit, and six standard one-bedroom units. Each unit is described as having a living room and a full kitchen. The property is currently fully occupied and includes private parking for up to 16 vehicles, a coin-operated washer and dryer for supplemental income, and a storage shed on-site.
The building is situated on 2.5 landscaped acres in a South County setting, with an additional lot included with the sale. Recent updates noted in the remarks include a furnace and chimney liner both less than one year old.
According to the provided information, the offering is turnkey, with financial details available upon request for qualified buyers.
The building is situated on 2.5 landscaped acres in a South County setting, with an additional lot included with the sale. Recent updates noted in the remarks include a furnace and chimney liner both less than one year old.
According to the provided information, the offering is turnkey, with financial details available upon request for qualified buyers.
Key Highlights
- Victorian multifamily built in 1880 with 9 residential units that are fully occupied
- Unit mix includes 2 efficiency 1‑bedroom units, 1 spacious 2‑bedroom unit, and 6 standard 1‑bedroom units
- Each unit layout features a living room and full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,759
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,555,180
$1.6M
Cap Rate 7%
$1,110,843
$1.1M
Cap Rate 9%
$863,989
$864.0K
Market Conditions
NOI Build-Up for 5,690 SF
Gross rent
$143.4K $25.20/SF
− Vacancy
−$2.0K −$0.35/SF
EGI
$141.4K $24.85/SF
− OpEx
−$63.6K −$11.18/SF
NOI
$77.8K $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%
$1,555,180
Cap Rate 7%
$1,110,843
Cap Rate 9%
$863,989
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$972.0K – $1.30M
NOI $77,759 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,622 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
9
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Nine fully occupied residential units in a Victorian multifamily building with on-site laundry and parking.
Where is this apartment building located?
The property is located at 465 Chapel Lee, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Victorian multifamily built in 1880 with 9 residential units that are fully occupied; Unit mix includes 2 efficiency 1‑bedroom units, 1 spacious 2‑bedroom unit, and 6 standard 1‑bedroom units; Each unit layout features a living room and full kitchen
