New to the market!! 16 unit building, with a cap rate of 11%. This asset is TURNKEY & is Project Based housing located in the McKnight neighborhood. This asset consists of two brick buildings that are 4 stories & are connected. There are 8 units in each building with a total of 23,235 SF. The unit mix consists of; 5: 2 bed / 1 bath units; 7: 3 bed/1 bath units; and, 4: 3 bed/ 2 bath units (2 bath are rare in this type of asset). The tenants pay utilities. Each unit has its own newer gas furnace & updated electrical with circuit breaker panels in each unit. The roof is a rubber membrane roof and there is some off-street parking available. This property has been well managed and maintained! Truly a turnkey investment opportunity.
Off market
Street View
$1,428,400
309 Bay St, Springfield, MA 01109
43beds
23,435sqft
MultiFamily
Built in 1917
-- sqft lot
$1,428,400 Zestimate®
$61/sqft
$1,457 Estimated rent
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 43
- Bathrooms: 20
- Full bathrooms: 20
Interior area
- Total interior livable area: 23,435 sqft
Property
Lot
- Size: 0.28 Acres
Details
- Parcel number: 2572973
Construction
Type & style
- Home type: MultiFamily
Condition
- Year built: 1917
Community & neighborhood
Location
- Region: Springfield
Other
Other facts
- Construction: Frame
- Roof Material: Rubber
- Mf Type: 5+ Family - 5+ Units Up/Down
- Lot Description: Other (see Remarks)
- Foundation: Brick
Services availability
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.
Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$1,428,400
2% more+ $28,568
With Zillow Showcase(estimated)
$1,456,968