Under Agreement
683-687 State St, Springfield, MA
Springfield · MA 01109
- $1,650,000
- Price
- 25
- Beds
- 16
- Baths
- 11250
- Sq. ft.
Overview
Property type:
Multi-Family
Year built:
Built in 1895
Units:
17 Units
Lot size:
7,532 Sq.Ft Lot
Price per square foot:
$147 / Sq.Ft
Parking:
No Parking
About this home
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!
Neighborhood & Transit
683-687 State St, Springfield · MA 01109
Nearby transit
Within 0.5 mile, measured straight-line to the nearest station entrance.
No subway or commuter rail stations within 0.5 mile.
Price Insight
- Days on Market:
- 137 days
- Listing Price:
- $1,650,000
- Price per Sq.Ft:
- $147
- Tax Assessment:
- $867,300 in 2023
- Taxes:
- $1,232 / Monthly
Home Facts
Interior Features
- Bedrooms
- 25
- Full Bathrooms
- 15
- Half Bathrooms
- 2
- Living Area
- 11,250 Sq.Ft
- Kitchen
- Unknown
- Primary Bedroom
- Unknown
- Laundry
- Unknown
- Living levels
- Unknown
- Rooms
- Unknown
- Above grade area
- 11250
- Flooring
- Unknown
- Lead paint
- Certified Treated, Unknown
Utilities
- Heating Type
- Unknown
- Heating Zone
- Unknown
- Cooling
- Unknown
- Cooling Zones
- Unknown
- Water
- Unknown
- Sewer
- Unknown
- Electric Features
- Unknown
Exterior Features
- Lot Size
- 7,532 Sq.Ft
- Lot Description
- Unknown
- Exterior Features
- Unknown
Parking
- Garage Parking
- 0 Parking Spaces
- Off Street Parking
- None
Construction Details
- Construction Type
- Unknown
- Siding
- Unknown
- Roof
- Unknown
Green Features
- Electric Vehicle Charger
- Unknown
- Solar Panels
- Unknown
- Green Certified
- Unknown
- Insulation Features
- Unknown
- Energy Features
- Unknown
Listing information
- Listing agent
- Jessica Mekal
- Listing office
- Lock and Key Realty Inc.
- MLS PIN #
- 73538738
- Disclosure
- One apt being marketed for rent but can be delivered vacant at buyers request. Roofs replaced in 2023; heating system updated 7-8 years ago per prior owner. Buyer to perform own due diligence. Photos are from when units were vacant & commercial space photo is staged. There are some LOC's for apt's.