25 Merrick St, West Springfield, MA 01089

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Building Details:

• Year Built: 1895

25 Merrick St is amulti-family property located in West Springfield, MA. The property currently has 1 multi-family space for lease and is marketed by King & Newton Commercial Real Estate.

Three-story wood framed 6 unit multi-family dwelling. There are 5 one-bedroom units and 1 two-bedroom unit, the 2-bedroom unit has same square footage as the 1-bedroom units but was remodeled into a 2-bedroom unit. Tenants pay all utilities, i.e., gas heat, electric and hot water. Roof, vinyl siding, back porches and vinyl replacement windows installed in 2011. Owner has lead certificates on all six units. There is on-site parking for about 8 cars plus a large fenced green area to side and behind the property. With the exception of one tenant, all tenants are month to month. Actual income used in year 1 and then increased 3% per year and expenses increased 5% per year. Based on 80% LTV, 5% 20year mortgage, the cash flow before taxes in year one is estimated to be $9,145 or about 13% return on investment and about 25% factoring in principal reduction. Nice clean investment property with a good rental history. Overall capitalization rate is 8.9%.
Property located on residential street off Main St between Main and Union. Easy access to all neighborhood amenities. Rents could be easily increased over the next 12 months. Property is 100% rented.

• Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For sale: Contact for Pricing	10,000 sqft
View Details Listing company: King & Newton Commercial Real Estate Pricing: Contact for Pricing Availability: Now Listing ID: 1051453 Save to list