88-96 Maple Street - Springfield, MA

Joe Shertick, United Multi Family

Springfield, MA United Multi Family (UMF) brokered the sale of a 34 unit apartment building at 88-96 Maple St., for $1.3 million ($38,235 per unit). Joe Shertick of UMF brokered the sale. The brick residences were built in 1930 and comprised of 24 two-bedrooms and 10 one-bedroom apartments. The property is located close to the MGM Casino which broke ground in March, 2015.

The CAP rate at the time of sale was 12.11% with the property having a gross annual income of $324,000.