1162-1172 Springfield Street, Feeding Hills, MA 1030 - multi-family property

Detailed information about multi-family property which situated in Feeding Hills (1030) city, Massachusetts state on 1162-1172 Springfield Street.

Additional Information: The Carriage House Apartments consist of 44 garden-style apartments built about 1970. There are two 2 & 2 1/2 story brick buildings. 1162 Springfield Street contains 26 units; 1172 Springfield Street contains 18 units. All the units are studios containg about 300 square feet. 1162 Springfield Street tenants pay their electric heat and electric with the owner providing gas hot water, 1172 Springfield Street rents includes heat and hot water with tenants paying their own electric. The average rent in 1162 Springfield Street is $415; 1172 Springfield Street average rent is $455. Ideal location, the property is within walking distance of a Stop & Shop Super Store, banks, convenience stores, gas stations and is considered a very desirable area to live. Competing rents in the area for studios, depending on utilities and condition, range from %500 tp $600 per month. Actual rents were used in the investment analysis and actual expenses for 2011 were used with maintenance & supplies estimated to be about 8%. Rents increased at a modest 3% along with expenses. In 2008 porch and staircase repairs made to 1162 Springfield Street - $44,975; 2010 strip and re-shingled roof on 1172 Springfield Street; new seamless gutters installed on both buildings - $2,964.