Springfield Portfolio: 127
For Sale
$11,900,000
Pending
64 Myrtle Street, Springfield, MA 01105
Three stabilized, cash-flowing properties in Springfield's rental market.
Property Size144,383 SF
Days on Market339
Property Features for 64 Myrtle Street
General Information
Standard status
Pending
Size
144,383 SF
Total Parking Spaces
80
Zoning
R3/B2
Site & Location
Neighborhood
Indian Orchard
Taxes and HOA fees
Annual Taxes
$91,275
Building Details
Building Size
144,383 SF
Year Built
1914
Listed By:
Kim Cook
(978) 852-5054
Source:
Cookandcompanyre.idxbroker
Added: Nov 27, 2025
Changed: Oct 26
Last Checked: Nov 1 at 2:28AM
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 Kim Cook
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Investment Insights
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This offering presents a rare portfolio of three stabilized, cash-flowing, professionally managed brick properties located in Springfield's strong rental market. The portfolio totals 127 units, comprising 120 one-bedroom/one-bath units and 7 studios, along with 3 commercial spaces. The properties boast a 96% REAC score and feature upgraded mechanical systems, on-site laundry facilities, and security systems. Recent investments of $270,000 in energy-efficiency upgrades, including attic insulation, low-flow fixtures, and door sealing, have further boosted the Net Operating Income (NOI). There is potential upside through repurposing underused commercial/office space. Two of the assets are listed on the National Register of Historic Places, potentially offering tax credits (buyer to verify). The properties include: 64 Myrtle Street, a 39-unit school conversion featuring 5 lofts, a roof less than 7 years old, Grundfos pumps, and a 2022 ACV Prestige 6 system with dual tanks; 11 Acushnet Avenue, a 24-unit school conversion with a roof less than 10 years old, a 2015 Prestige Triangle Tube system, and a 100-gallon indirect heater; and 519 Main Street, consisting of 64 units with new water heaters (installed in 2022 and 2023), RUUD AC for the commercial space, and a roof less than 10 years old. All three properties are being sold as a portfolio, offering an actual 7.8% CAP rate with annual in-place rent increases.
Key Highlights
- Actual 7.8% CAP Rate with annual rent increases ensuring strong cash flow.
- Portfolio of 3 stabilized brick properties totaling 127 units in a strong rental market.
- High 96% REAC score indicating well‑maintained properties.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
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Business Placement
Demographics for 01105, MA
12,051
Population
5,554
Households
2.2
Avg Household Size
33
Median Age
8%
College-Educated
64%
High-School Grad
1.2 sq mi
ZIP Area
10,043
Density / Sq Mi
$22,994
Median Household Income
$24,078
Median Earnings
$976
Median Rent
$238,400
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 - Three stabilized, cash-flowing properties in Springfield's rental market.
Where is this apartment building located?
The property is located at 64 Myrtle Street Springfield, MA.
What is the asking price?
The asking price for this property is $11,900,000.
What are key features of this property?
This property features: Actual **7.8% CAP Rate** with annual rent increases ensuring strong cash flow.; Portfolio of 3 stabilized brick properties totaling 127 units in a strong rental market.; High **96% REAC score** indicating well‑maintained properties.
