683-687 State St, Springfield, MA 01109
683-687 State St, Springfield, MA 01109
683-687 State St, Springfield, MA 01109
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BHRE Brad Hutchinson Real Estate

BHRE Brad Hutchinson Real Estate

+1(781) 665-2222
$1,675,000
Est. payment /mo
25 Beds
16 Baths
11,250 SqFt
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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 $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

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Listed by Lock and Key Realty Inc.

NEARBY SCHOOLS & PROPERTIES

BHRE Brad Hutchinson Real Estate

At Brad Hutchinson Real Estate, our main goal is simple: to assist buyers and sellers with making the best, most knowledgeable real estate decisions that are right for you. Whether you’re searching for houses for sale, commercial investment opportunities, or apartments for rent, our independent, committed staff is ready to assist you. We have over 60 years of experience serving clients in and around Melrose and Boston's North Shore.

+1(781) 665-2222

sales@bradhutchinson.com

193 Green Street, Melrose, Massachusetts, 02176, United States

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683-687 State St