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$459,000
Est. payment /mo
7 Beds
4 Baths
7,290 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,290 sqft
Price per Sqft $62
MLS Listing ID 73469357
Bedrooms 7
Full Baths 4
Year Built 1909
Annual Tax Amount $4,956
Tax Year 2024
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type 4 Family
Property Description
RARE 10.8% CAP RATE - 16% CASH ON CASH 4-UNIT INVESTMENT IN FOREST PARK. Presenting a premier high-yield asset at 127 Dickinson St, a 4-unit residential portfolio offering immediate double-digit returns. This legal 4-family features four spacious 2-bedroom/1-bath units, providing a robust unit mix for the Springfield market. The building has undergone significant capital improvements, including updated electrical (circuit breakers), plumbing, and newer hot water heaters. Interiors feature refreshed kitchens, updated flooring, and fresh paint in 2 of 4 units. While currently stabilized, an identified 17% rental upside exists by transitioning current rents to market levels. Situated on a prominent corner lot in the Forest Park neighborhood. Features include 4 dedicated off-street parking spaces, private porches for each unit, and a fenced-in yard. Separated utilities (Natural Gas & Electric). This asset delivers on every metric. Full underwriting package available upon request.
Location
State MA
County Hampden
Area Forest Park
Zoning R3
Direction Dickinson Street
Rooms
Basement Full, Unfinished
Interior
Heating Electric, Natural Gas
Cooling None
Exterior
Community Features Public Transportation, Shopping, Park, Medical Facility, Highway Access, Public School
Roof Type Shingle
Total Parking Spaces 2
Garage No
Building
Lot Description Corner Lot
Story 4
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by William Pitt Sotheby's International Realty
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