Palmer Gardens | 1 Lariviere Ave
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Palmer Gardens 1 Lariviere Ave
47 Unit Apartment Building For Sale Three Rivers, MA 01080
Investment Highlights
- 100% MARKET-RATE WITH STRONG PROPERTY LEVEL FUNDAMENTALS
- STRONG RENTER DEMOGRAPHICS & ACCESS TO LIFESTYLE AMENITIES
- SIGNIFICANT REMAINING UPSIDE IN RENTS THROUGH LTL & RENOVATIONS
Executive Summary
Palmer Gardens is a 47-unit apartment community (74% two-bedrooms) in Palmer (Three Rivers), MA. The community continues to
experience strong property fundamentals, with proven value-add upside and favorable in-place debt.
We are offering this property for sale without an asking price, and will be conducting tours with a call-for-offers to follow shortly thereafter.
CBRE Capital Markets has been exclusively retained to sell The NBM Apartment Portfolio (the “Portfolio”), 267-unit, four-property apartment portfolio. The four properties are Palmer Gardens in Palmer, MA, Brookview Townhomes in Westfield, MA, Longhill Gardens in Southampton, MA & 905 Lofts in East Hartford, CT. While we are offering this opportunity as a portfolio, we welcome offers on a sub-portfolio or individual basis.
experience strong property fundamentals, with proven value-add upside and favorable in-place debt.
We are offering this property for sale without an asking price, and will be conducting tours with a call-for-offers to follow shortly thereafter.
CBRE Capital Markets has been exclusively retained to sell The NBM Apartment Portfolio (the “Portfolio”), 267-unit, four-property apartment portfolio. The four properties are Palmer Gardens in Palmer, MA, Brookview Townhomes in Westfield, MA, Longhill Gardens in Southampton, MA & 905 Lofts in East Hartford, CT. While we are offering this opportunity as a portfolio, we welcome offers on a sub-portfolio or individual basis.
Property Facts
| Sale Type | Investment | Lot Size | 3.48 AC |
| No. Units | 47 | Building Size | 39,284 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1969/2022 |
| Building Class | C | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.48 AC |
| Building Size | 39,284 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2022 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 600 |
| 1+1 | 11 | - | 700 |
| 2+1 | 35 | - | 700 - 800 |
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PROPERTY TAXES
| Parcel Number | PALM-000070-000000-000093 | Improvements Assessment | $2,321,500 |
| Land Assessment | $246,000 | Total Assessment | $2,567,500 |
PROPERTY TAXES
Parcel Number
PALM-000070-000000-000093
Land Assessment
$246,000
Improvements Assessment
$2,321,500
Total Assessment
$2,567,500
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Palmer Gardens | 1 Lariviere Ave
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