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$1,650,000
Est. payment /mo
25 Beds
16 Baths
11,250 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Active
Purchase Type For Sale
Square Footage 11,250 sqft
Price per Sqft $146
MLS Listing ID 73538738
Bedrooms 25
Full Baths 15
Half Baths 2
Year Built 1895
Annual Tax Amount $14,787
Tax Year 2023
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
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!
Location
State MA
County Hampden
Zoning B1
Direction Located at the corner of State St and Hancock St
Rooms
Basement Full
Exterior
Community Features Public Transportation, Laundromat
Roof Type Rubber
Garage No
Building
Lot Description Level
Story 4
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Lock and Key Realty Inc.
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION
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