379,000

House for sale Springfield

Overview

SUMMARY: Discover an opportunity with this Springfield house for sale and available for 379,000. This could be your next ideal home or a smart investment. More details await.
Strong investment property. This downtown Springfield investment property offers a $5,500+ monthly rent roll. The property consists of a joisted masonry building containing one 3BR apartment, one 5BR apartment, and ten garage bays that lease at a monthly rate of $150 each. Apartments feature a sunroom, and the 5BR apartment also has an office. The apartments are bright with renovated kitchens and a combination of hardwood and laminate flooring. The NOI is $50,579 and the cap rate is 13.35%. Located nearby to the Springfield FD Headquarters, the property offers access to major highways I-91, I-291 and I-90 (the Mass Pike); as well as area hospitals (under two miles to Baystate Medical Center and approximately one mile to Mercy Medical Center). The property is situated close to Springfield's CBD, nearby to MGM Springfield and the Basketball Hall of Fame, within a 30 minute drive time of UMass Amherst and the Five College Area.
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Details

  • Beds: 8
  • Baths: 2
  • Price: 379,000
  • Reference No.: 96727951
  • Area: 3,520 sqft

Location

Marketed by:

  • Tim Thompson
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