69 Winter St, Springfield, MA 01105

This downtown Springfield investment property offers a $5,500+ rent roll. The property

consists of a joisted masonry building containing one 3BR apartment, one 5BR

apartment, and ten income producing garages. Apartments feature a sunroom, and

the 5BR apartment also has an office. The apartments are bright with renovated

kitchens and a combination of hardwood and laminate flooring. The NOI is

$53,079 and the cap rate is 13.3%. Located across from the Springfield FD Headquarters,

the property offers access to major highways I-91, I-291 & I-90 (the Mass Pike); as well as

area hospitals (under two miles to Baystate Medical Center and approximately one mile

to Mercy Medical Center). The property is situated close to Springfield’s CBD, nearby to

MGM Springfield and the Basketball Hall of Fame, within a 30-minute drive time of

UMass Amherst and the Five College Area. Springfield is home to major employers

including Baystate Health, MassMutual, Big Y Foods, and Smith & Wesson. There are 16

colleges within a 20-mile radius of Springfield, which include 12 private colleges and

universities, two public colleges and universities, and two community colleges offering

two-year degrees. Bradley International Airport in Hartford, CT is approximately 20

miles south, offering regional, national and international air service. The Springfield MA

MSA has a population of over 700,000, and Springfield is the third largest city in

Massachusetts.