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309 Bay St, Springfield, MA 01109

43 Bed, 20 Bath Multi-Family Home For Sale

309 Bay St, Springfield, MA 01109 House For Sale - MLS #72590606
$1,200,000
43
20
Multi-Family
5+ Family
16

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Property Description for 309 Bay St, Springfield, MA 01109

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.

Interior Details

23,435 sq. ft.
$51.21/sq. ft.

Exterior Details

0.28 acres
12,196 sq. ft.
7

Other Details

72590606
1917

Units Description

Unit #1
Rooms: 4      Bedrooms: 2      Full / Half Baths: 1      Levels: 1      Floor: 1      Rent: $935      Lease: Yes

Unit #2
Rooms: 5      Bedrooms: 3      Full / Half Baths: 1      Levels: 1      Floor: 1      Rent: $1,095      Lease: Yes

Unit #3
Rooms: 5      Bedrooms: 3      Full / Half Baths: 2      Levels: 4      Floor: 4      Lease: Yes

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(20%)

Monthly Mortgage Payments

$5,451
$7,592

Town Description

The City of Springfield is a major urban industrial center of metropolitan status at the junction of regional routes between Boston and New York. The city lies in the Connecticut River Valley, and...

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