89 School St Chicopee, MA 01013
Chicopee Center NeighborhoodEstimated payment $8,033/month
Highlights
- Property is near public transit
- Park
- 5-minute walk to Lucy M. Wisniowski Memorial park
- Corner Lot
- Shops
About This Home
10% Cap Rate! Investment Opportunity! This fully occupied 11-unit mixed-use building offers strong cash flow, long-term stability, and value-add potential! The property features 10 residential units and a ground-level commercial storefront in a prime, high-visibility location. Each unit has separate electric and heating systems, and lead certificates are on file for all residential units. All units are currently rented by long-term tenants, with 9 out of 10 residential units subsidized through Section 8—providing consistent, government-backed rental income. Most tenants are on month-to-month leases, giving a new owner the flexibility to increase rents and boost returns. Professionally managed and well-maintained, this asset is ideal for investors seeking a stabilized building with upside. Whether you're expanding your portfolio or securing your next high-performing asset, this property checks all the boxes!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,039
Year Built
- Built in 1935
Lot Details
- Corner Lot
Parking
- Open Parking
Home Design
- Block Foundation
- Concrete Perimeter Foundation
Interior Spaces
- 10,000 Sq Ft Home
- Property has 1 Level
Bedrooms and Bathrooms
- 24 Bedrooms
- 11 Full Bathrooms
Basement
- Basement Fills Entire Space Under The House
- Dirt Floor
- Block Basement Construction
Location
- Property is near public transit
- Property is near schools
Community Details
Recreation
- Park
Additional Features
- 11 Units
- Shops
- Net Operating Income $18,600
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/13/2025 08/13/25 | Price Changed | $1,299,000 | -3.8% | $130 / Sq Ft |
| 07/24/2025 07/24/25 | Price Changed | $1,350,000 | -5.3% | $135 / Sq Ft |
| 07/14/2025 07/14/25 | Price Changed | $1,425,000 | -1.7% | $143 / Sq Ft |
| 06/24/2025 06/24/25 | For Sale | $1,449,000 | -- | $145 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73396046
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