ATTENTION INVESTORS! This is a rare opportunity to own a stabilized, clean and respectable four unit building in the desirable college town of Amherst. This CASH COW features separate water and electric meters for each unit, making it easy to reduce landlord expenses. The building is fully occupied with leases signed for units 1, 2, and 3 through 5/31/2027 and unit 4 is in the process of getting a re-leased though 5/31/2027 as well. The current monthly rent roll is $7,500 per month with tenants paying for electricity (which includes heat and hot water) and the landlord only pays for water and common area expenses, including landscaping/snow removal, trash, and laundry room lights, heat and water. The NOI is around $80,000 a year. At a 7% cap rate, the price should be $1.1M! This is a fantastic deal for investors of any size to add to their portfolio, not to mention potential expansion, renovation, or exploration of ADU possibilities with this HUGE lot. Buyers/agents to do due diligence
Attention Investors! Here is an opportunity to own a 4-Family in Amherst with reliable rental history. All of the units are already leased through Summer 2025! Each apartment has been well maintained and have received various flooring/kitchen updates over the years. Each apartment has two parking spaces on-site and there is a PVTA bus stop nearby. There is a common area Laundry for in the basement for all tenants to access. Showings begin Thursday 6/13/2024 by appointment only.
Public Records
Aug 29, 2008
Sold
$150,000
$56/sq ft
MLS PIN #30134594
Mar 26, 1998
Sold
$184,000
$69/sq ft
Nov 1, 1996
Listed
$194,000
$72/sq ft
WONDERFUL RESTORED BUILDING NICE APARTMENTS NEAR RIVER AND ECHO HILL, RENT NEXT WILL BE #1 & 3 $660 EACH #2 $550 H$510
Year
Property tax
Land + Additions
Assessment*
2023
$8,068 (+1.5%)
$223,300 + $178,100
$401,400
2022
$7,949 (−2.5%)
$212,800 + $160,900
$373,700
2021
$8,154 (+2.3%)
$212,800 + $160,900
$373,700
2020
$7,967 (+0.8%)
$212,800 + $160,900
$373,700
2018
$7,900 (−0.1%)
$212,800 + $160,900
$373,700
2017
$7,909 (+2.9%)
$212,800 + $149,500
$362,300
2016
$7,688 (−11.4%)
$212,800 + $149,500
$362,300
2015
$8,674 (+9.7%)
$235,200 + $187,100
$422,300
2014
$7,906 (+2.8%)
$228,300 + $148,700
$377,000
2013
$7,687 (+3.3%)
$228,300 + $148,700
$377,000
2012
$7,442 (+12.8%)
$228,300 + $148,700
$377,000
2011
$6,599
$202,900 + $159,700
$362,600
Tax history for 310 Belchertown Rd
Year
Property tax
Land + Additions
Assessment*
2023
$8,068 (+1.5%)
$223,300 + $178,100
$401,400
2022
$7,949 (−2.5%)
$212,800 + $160,900
$373,700
2021
$8,154 (+2.3%)
$212,800 + $160,900
$373,700
2020
$7,967 (+0.8%)
$212,800 + $160,900
$373,700
2018
$7,900 (−0.1%)
$212,800 + $160,900
$373,700
2017
$7,909 (+2.9%)
$212,800 + $149,500
$362,300
2016
$7,688 (−11.4%)
$212,800 + $149,500
$362,300
2015
$8,674 (+9.7%)
$235,200 + $187,100
$422,300
2014
$7,906 (+2.8%)
$228,300 + $148,700
$377,000
2013
$7,687 (+3.3%)
$228,300 + $148,700
$377,000
2012
$7,442 (+12.8%)
$228,300 + $148,700
$377,000
2011
$6,599
$202,900 + $159,700
$362,600
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.