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10 studio apartments. Brick and block construction with rubber roof. Vinyl replacement windows. Off-street parking. Landlord pays all utilities, including electric baseboard heat & electric HW. In place PRI = $101,940. In place NOI = $56,182. Proforma PRI = $111,000. Proforma NOI = $64,100. Additional upside potential to separately meter electricity. The property is located directly across Stevens Street from CRRC MA’s North American manufacturing facility, which is a 204,000 SF rail car facility. CRRC MA is underway with manufacturing 404 next generation subway cars for The Massachusetts Bay Transportation System (MBTA). All production vehicles will be assembled and tested in the CRRC MA Rail Car Assembly Facility. The manufacturing facility in Springfield employs 179 employees, including 122 union production employees.

Property Details of 50 Stevens Street, East Springfield

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Listed by Tim Thompson of Timothy Thompson

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