101 Days on Boardwalk PropertiesPrice Reduced $40,000
1
119 Grape St, Chicopee, MA 01013
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$475,000
5 Unit
6 Beds
5 Baths
2603 SQFT
0.38 Acre

Property Description

Exceptional 5-unit Investment Opportunity with Upside Potential. Nestled in a quiet and desirable neighborhood, this well-maintained 5-family rental property has been in the same family for over 30 years and is professionally managed for seamless operation. The property features a versatile mix of units, with the current owner covering hot water & electricity for some units. However, the property is already equipped with separate electric meters, offering flexibility for a future owner to reduce operating costs by shifting responsibility for electric bills to tenants. Additional highlights include off-street parking for tenant convenience and a location that balances tranquility with accessibility, just minutes from major highways. With below-market rents, this property offers excellent upside potential for increased cash flow.Whether you’re a seasoned investor or looking for your first multi-family property, this is a rare opportunity to acquire a professionally managed asset.

Property Details tap to expand

Building Information

  • Total Units: 5
  • Total Floors: 5
  • Total Bedrooms: 6
  • Total Full Baths: 5
  • Amenities: Highway Access, Public School, Public Transportation, Shopping
  • Common Rooms: Kitchen, Living RM/Dining RM Combo, Living Room
  • Common Heating: Electric, Electric Baseboard, Forced Air, Oil, Radiant, Space Heater

Financial

  • APOD Available: No
  • Gross Operating Income: 53400
  • Net Operating Income: 53400

Utilities

  • Electric Info: Circuit Breakers, Underground
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Hot Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Electric
  • Under Lease: No
  • Levels: 1

Unit 4 Description

  • Included in Rent: Electric
  • Under Lease: No
  • Levels: 1

Construction

  • Year Built: 1905
  • Type: 5+ Family - 5+ Units Side by Side
  • Construction Type: Aluminum, Frame
  • Foundation Info: Brick, Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73324419
  • Last Updated: 02/02/25

Property History tap to expand

Date Event Price Price/Sq Ft Source
02/02/2025Active$475,000$182MLSPIN
01/29/2025Price Change$475,000$182MLSPIN
01/12/2025Active$515,000$198MLSPIN
01/08/2025New$515,000$198MLSPIN

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Seller's Representative: Maher Khatib, M B C REALTORS®
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2025-02-02 04:05:00

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