$1,675,000 ($148.89 per sqft)

Est. Mortgage $8,034/mo *

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683-687 State St, Springfield, MA, 01109

683-687 State St, Springfield, MA, 01109
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51 rooms

25 beds

15 Full / 2 Half baths

1895

11,250 sqft

Exceptional investment opportunity in Springfield,MA! 683-687 State Street features 17 units, including 15 residential apartments and 2 commercial spaces. The unit mix consists of (9) one-bedroom, (2) two-bedroom, and (4) three-bedroom apartments, with all but two units updated within the past 24 months. The property currently has one vacant 3-bedroom unit and two vacant commercial spaces, creating immediate upside potential. One commercial space offers over 2,600 sq. ft. and is ideal for a laundromat, retail, office, or other business use. Ownership pays heat and hot water, while tenants pay their own electric (separately metered). Ten of the 15 residential units are subsidized, providing stable rental income.The property currently generates approximately $19,000 per month in gross rental income, with upside still available. Excellent cash flow and value-add opportunity. Don't miss out!

Status:

Active

Type:

Multi-family

Units:

17

Zoning:

B1

Basement:

Full

Levels:

4

Acreage:

0.17

Est. Taxes:

$14,787

Assessment

$867,300

Construction

Brick

Lot Description:

Level

Amenities:

Public Transportation, Laundromat

MLS #:

73538738

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Jessica Mekal, Lock and Key Realty Inc.