8-Unit Apartment
For Sale
$1,100,000
632 S East, Holyoke, MA 01040
Partially completed multifamily property with updated core systems and finish materials available for the remaining work.
Property Size5,580 SF
Days on Market44
Property Features for 632 S East
General Information
Standard status
Active
Size
5,580 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
not yet turnkey
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$4,019
Building Details
Building Size
5,580 SF
Year Built
1900
Stories
5
Units
8
Listing Agency:
(413) 213-3472
Listed By:
Team ROVI
(413) 213-3472
Source:
Elliman
Added: Jul 21
Changed: Aug 29
Last Checked: Sep 1 at 6:48PM
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 Team ROVI
Investment Insights
Based on property information with market context.
This 8-unit apartment property, originally built in 1900, has undergone substantial reconstruction and includes a heavy brick exterior with metal railings inside and out. Electrical, plumbing, and heating systems have been updated, while flooring, cabinets, tile, and other finish materials are included for continued completion. The property is not yet turnkey, leaving remaining work before the apartments are ready for occupancy.
Located at 632 S East in Holyoke, the property records a walk score of 74, a transit score of 54, and a bike score of 50. These ratings indicate a walkable setting with access to transit and bikeable conditions.
Located at 632 S East in Holyoke, the property records a walk score of 74, a transit score of 54, and a bike score of 50. These ratings indicate a walkable setting with access to transit and bikeable conditions.
Key Highlights
- 8‑unit apartment property originally built in 1900
- Updated electrical, plumbing, and heating systems
- Heavy brick exterior with interior and exterior metal railings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,354,620
$1.4M
Cap Rate 7%
$967,586
$967.6K
Cap Rate 9%
$752,567
$752.6K
Market Conditions
NOI Build-Up for 5,580 SF
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.
Gross rent
$129.9K $23.28/SF
− Vacancy
−$6.8K −$1.21/SF
EGI
$123.1K $22.07/SF
− OpEx
−$55.4K −$9.93/SF
NOI
$67.7K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,354,620
Cap Rate 7%
$967,586
Cap Rate 9%
$752,567
Alternative Uses
Best Use
Apartment 5plus
$967.6K
$846.6K – $1.13M
NOI $67,731 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,735 @ 7.0% cap · market cap 21.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Partially completed multifamily property with updated core systems and finish materials available for the remaining work.
Where is this apartment building located?
The property is located at 632 S East Holyoke, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8‑unit apartment property originally built in 1900; Updated electrical, plumbing, and heating systems; Heavy brick exterior with interior and exterior metal railings
