Reconstructed Eight-Unit Apartment
For Sale
$1,100,000
632 South East Street, Holyoke, MA 01040
Partially completed multifamily property with updated building systems, an unfinished basement, and included finish materials.
Property Size5,580 SF
Price / SF$197.13
Days on Market300
Property Features for 632 South East Street
General Information
Standard status
Active
Size
5,580 SF
Property subtype
Multi-family / 5-9 Family
Zoning
DR
Net Operating Income
$90,000
Property Condition
Severity
Repairs Needed
Evidence
not yet turnkey
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$4,019
Amenities
City/Town Sewer, Public, Circuit Breakers, for Electric Range
No, .00
No
Wood, Vinyl
Range, Refrigerator
8.0
Full, Concrete Floor, Unfinished Basement
Laundry Room
8
8.00
Fenced
Rubber
Zero Lot Line
Balcony/Deck, Balcony, Other (See Remarks), Fenced Yard, Porch, Deck, Patio, Covered Patio/Deck
Porch, Deck, Patio, Covered
Building Details
Year Built
1900
Construction
heavy brick
Listing Agency:
Real Broker MA, LLC
(413) 273-1381
Listed By:
Team ROVI
(413) 273-1381
Source:
Compass
Added: Nov 5, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:33AM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This eight-unit apartment property contains 5,580 square feet and was originally built in 1900. The building has been reconstructed with a heavy brick exterior and metal railings installed inside and out. Major system work includes updated electrical, plumbing, and heating components. The property remains incomplete, allowing the remaining finishes and work to be addressed as part of the project.
Interior features include wood and vinyl finishes, ranges and refrigerators, a laundry room, and an unfinished basement with a concrete floor. Additional materials, including flooring, cabinets, and tile, are included. Exterior improvements include fencing, balconies, decks, patios, and covered outdoor areas. The property is zoned DR and is located at 632 South East Street in Holyoke, Massachusetts.
Interior features include wood and vinyl finishes, ranges and refrigerators, a laundry room, and an unfinished basement with a concrete floor. Additional materials, including flooring, cabinets, and tile, are included. Exterior improvements include fencing, balconies, decks, patios, and covered outdoor areas. The property is zoned DR and is located at 632 South East Street in Holyoke, Massachusetts.
Key Highlights
- Eight‑unit apartment property with 5,580 SF
- Reconstructed building with heavy brick exterior and interior and exterior metal railings
- Updated electrical, plumbing, and heating systems
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 building systems, an unfinished basement, and included finish materials.
Where is this apartment building located?
The property is located at 632 South East Street 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: Eight‑unit apartment property with 5,580 SF; Reconstructed building with heavy brick exterior and interior and exterior metal railings; Updated electrical, plumbing, and heating systems
