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Chris Woodard

chrisw@kw.com +1(401) 640-3481

$ 1,675,000

Est. payment | -/mo

25 Beds

16 Baths

11,250 SqFt

Save

$ 1,675,000

Est. payment | -/mo

Save

25 Beds

16 Baths

11,250 SqFt

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 $148

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

Listed by Lock and Key Realty Inc.

Nearby Locations

GET MORE INFORMATION

Chris Woodard

Broker Associate in RI and MA | Lic# RI: B16682 | MA: 147825

chrisw@kw.com

+1(401) 640-3481

259 Thames St #10, Bristol, RI, 02809, USA

683-687 State St Springfield, MA 01109

Chris Woodard

Key Details

Location

Rooms

Exterior

Building

Others

683-687 State St