Four-Family Income
583 Chicopee Street Chicopee, MA 01013
583 Chicopee Street, Chicopee, MA, 01013
$599,900
For Sale
$599,900
Well-maintained quadplex with four income-producing units, and the second-floor unit delivered vacant at closing.
Property Size3,126 SF
Price / SF$191.91
Days on Market8
Property Features for 583 Chicopee Street
General Information
- Standard status
- Active
- Size
- 3,126 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Naples Realty Group
Listed by
The Gerber Group
(413) 789-9830
Source
Parksquarerealty
Added: Jul 14 Updated: Jul 21 at 12:39PM Checked: Jul 21 at 12:39PM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This well-maintained four-family (quadplex) property features four income-producing units. The highly desirable second-floor unit will be delivered vacant at closing, providing flexibility for an owner-occupant or the ability to set your own market rent for that unit, while income continues from the remaining units.
Located near shopping, restaurants, parks, major highways, and public transportation, the property’s central access is designed to support tenant convenience.
Showings are available starting at the open house Sunday, July 19 from 1–3 PM.
Located near shopping, restaurants, parks, major highways, and public transportation, the property’s central access is designed to support tenant convenience.
Showings are available starting at the open house Sunday, July 19 from 1–3 PM.
Key Highlights
- Four‑family (quadplex) built in 1920 with four income‑producing units
- Second‑floor unit to be delivered vacant at closing
- Owner‑occupant flexibility: generate income from remaining units while setting market rent
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.9k | $19.80 |
| − Vacancy | −$3.4k | −$1.09 |
| EGI | $58.5k | $18.71 |
| − OpEx | −$17.5k | −$5.61 |
| NOI | $40.9k | $13.10 |
3,126 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$584.9K
$511.8K – $682.4K
NOI $40,943 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $134,863 @ 7.0% cap · market cap 22.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained quadplex with four income-producing units, and the second-floor unit delivered vacant at closing.
Where is this quadplex located?
The property is located at 583 Chicopee Street Chicopee, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Four‑family (quadplex) built in 1920 with four income‑producing units; Second‑floor unit to be delivered vacant at closing; Owner‑occupant flexibility: generate income from remaining units while setting market rent
