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Mass Manufactured Housing Package

2 Multifamily Properties Offered at $5,283,213 CAD in Westfield, MA

Investment Highlights

  • 189 Springfield - Heavy daytime foot traffic with excellent visibility off Springfield Road.
  • Close proximity between both properties, a short 7 mile commute to one another.
  • 404 Southwick Road is a short 4 minute drive to the famous Ranch Golf Club.
  • Both properties are a short 13 minute commute to Westfield- Barnes Regional Airport.

Executive Summary

Freehold Real Estate Agency is pleased to present the opportunity to acquire a 73-unit manufactured housing portfolio in MA's Hampden County. Stabilized and operated for sixteen years by a full-time, regional, manufactured-home management firm, the two properties that compose the portfolio present a rare opportunity to invest in a highly-attractive asset class that has been gaining national attention from REITS and other institutional investors over the past decade. The close proximity between the two properties make maintenance simple and limit labor costs, while favorable tax treatment allows an investor to take advantage of non-cash expenses to offset income. Absent of the deferred maintenance and high proportion of rented units with which many leased-land communities are brought to market, a buyer will enjoy the steady cash-flow generated by leasing just the land on which owner-occupied homes sit, avoiding many of the headaches that come with apartment ownership.

Data Room Click Here to Access

Property Facts

Price $5,283,213 CAD
Price / SF $1,387 CAD / SF
Cap Rate 6.60%
Sale Type Investment
Status Under Contract
Number of Properties 2
Individually For Sale 0
Total Building Size 3,808 SF
Total Land Area 4.60 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
404 Southwick Rd, Westfield, MA 01085 Multifamily 2,968 SF 1973 -
189 Springfield Rd, Westfield, MA 01085 Multifamily 840 SF 1950 -
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  • Listing ID: 32184467

  • Date on Market: 2024-06-19

  • Last Updated:

  • Address: Mass Manufactured Housing Package, Westfield, MA

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