3-Unit Multifamily
For Sale
$549,871
71-75 North Boulevard, West Springfield, MA 01089
Three residences offer varied layouts, tenant-paid utilities, and basement laundry connections.
Property Size3,114 SF
Price / SF$176.58
Days on Market10
Property Features for 71-75 North Boulevard
General Information
Standard status
Active
Size
3,114 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Amenities
laundry connections
yard
Building Details
Year Built
1895
Listing Agency:
Park Square Realty
Listed By:
Luiza Berman
(413) 563-8910
Source:
Parksquarerealty
Added: Oct 5
Changed: Oct 13
Last Checked: Oct 12 at 9:06PM
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 Park Square Realty
Investment Insights
Based on property information with market context.
This 3,114-square-foot multifamily property contains three residences with distinct layouts. Unit 71 has a townhouse-style plan with a kitchen, living and dining rooms, a half bath, three bedrooms, a full bath, and walk-up attic access. Unit 73 includes two bedrooms, a living room, kitchen, and full bath. Unit 75 has three bedrooms, including one in finished attic space, plus a living room and kitchen. A brick firewall separates the basement and attic areas. Each unit has basement laundry connections, and Unit 75 uses a large shed or garage. Updates include a roof installed in 2020, a gas boiler, an aluminum-lined chimney, and newer basement windows.
The property has two driveways, off-street parking, and a yard. Tenants pay for heat, hot water, and electricity; water is excluded. Current tenancies are month to month.
The property has two driveways, off-street parking, and a yard. Tenants pay for heat, hot water, and electricity; water is excluded. Current tenancies are month to month.
Key Highlights
- Three units totaling 3,114 square feet
- Unit 71: three bedrooms, townhouse‑style layout, and walk‑up attic
- Unit 73: two bedrooms; Unit 75: three bedrooms, including one in finished attic space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,786
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,720
$815.7K
Cap Rate 7%
$582,657
$582.7K
Cap Rate 9%
$453,178
$453.2K
Market Conditions
NOI Build-Up for 3,114 SF
Gross rent
$61.7K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$58.3K $18.71/SF
− OpEx
−$17.5K −$5.61/SF
NOI
$40.8K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,720
Cap Rate 7%
$582,657
Cap Rate 9%
$453,178
Alternative Uses
Best Use
Multifamily LT 5
$582.7K
$509.8K – $679.8K
NOI $40,786 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$540.0K
$472.5K – $630.0K
NOI $37,798 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,345 @ 7.0% cap · market cap 24.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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?
Triplex - Three residences offer varied layouts, tenant-paid utilities, and basement laundry connections.
Where is this triplex located?
The property is located at 71-75 North Boulevard West Springfield, MA.
What is the asking price?
The asking price for this property is $549,871.
What are key features of this property?
This property features: Three units totaling 3,114 square feet; Unit 71: three bedrooms, townhouse‑style layout, and walk‑up attic; Unit 73: two bedrooms; Unit 75: three bedrooms, including one in finished attic space
