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$ 1,650,000
Est. payment /mo
New
685 State St Springfield, MA 01109
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 73601621
Bedrooms 25
Full Baths 15
Half Baths 2
Year Built 1895
Annual Tax Amount $19,783
Tax Year 2026
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
Prime Mixed-Use Investment Opportunity in Springfield! Discover the income potential of 683–687 State Street, a 17-unit mixed-use property featuring 15 residential apartments and 2 commercial spaces. The residential unit mix includes nine 1-bedroom, two 2-bedroom, and four 3-bedroom apartments. Significant improvements have been completed, with 13 of the 15 apartments updated within the past two years. The property offers additional income potential with one vacant 3-bedroom apartment and two vacant commercial spaces. One commercial unit provides over 2,600 square feet, offering flexible possibilities for retail, office, laundromat, or other permitted commercial uses. Ten residential units are currently subsidized, providing an established rental income stream. The property generates approximately $19,000 in monthly gross rental income, with room for additional revenue as vacant units are leased. Heat and hot water are provided by the owner, while tenants are responsible for their separately metered electricity. Whether you're looking to expand your investment portfolio or acquire a substantial income-producing asset, this property offers a combination of existing cash flow, recent improvements, and future growth potential. Schedule your private showing today!
Location
State MA
County Hampden
Zoning B1
Direction Use GPS
Rooms
Basement Full
Exterior
Garage No
Building
Lot Description Other
Story 4
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Lock and Key Realty Inc.