Toll House Apartments

Investment Overview

Northeast Private Client Group, Inc. is pleased to present Toll House Apartments (2024-2036 Riverdale Street), a 43-unit multifamily community in West Springfield, Massachusetts, positioned along the Riverdale Street (Route 5) retail corridor a short drive north of downtown Springfield. Offered at $4,750,000, the property presents a value-add opportunity in one of Western Massachusetts's core rental markets. Built in 1971, the community comprises 37 one-bedroom apartments, five studios, and one three-bedroom unit across two stories. Ownership covers hot water, electricity, water and sewer, and trash, and the units carry electric baseboard heat. Recent capital work totals roughly $700,000, including full renovations of 25 of the 43 units and upgrades to the property’s hot-water, electric, and roofing systems. Toll House Apartments offer an investor a value-add multifamily play: rents that sit below market, many capital upgrades, and historically strong occupancy. Please reach out to the deal contact for more information.

Investment Highlights

• Below-Market Rents
• $700K Recently Invested
• $110,465 Per Unit
• Taxed at the Residential Rate
• On the Route 5 Corridor