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683 State Street

Springfield MA 01109

25
17
11250 sq. ft.
7532 sq. ft.
Other
Currently for sale - view listing

Overview

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!

Features

25 bedrooms
17 bathrooms
11250 sq. ft. floor area
7532 sq. ft. lot size
Other

Property history for 683 State Street

2024
Sold
$1,410,000
28 Oct 2024 by The Madison Team, of Lock and Key Realty Inc.

Happy sellers in Springfield

<50%
Less than 50% of sellers in Springfield reported that their sale price either exceeded or met their price expectations.

Springfield stands out as a desirable suburb for sellers, consistently delivering great customer service and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Springfield over the last 12 months.

Local market activity for 25 bedroom other properties in Springfield

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