Owner requesting all interested parties submit offers by Wednesday January 4, 2023 at 5pm. Once in a life-time investment opportunity! Own this amazing 11 Unit mixed-use commercial & residential building in the heart of Downtown Springfield, MA close to MGM Casino and 3 blocks from Union Station Transportation Center, the busiest Amtrak station in the State of Massachusetts outside of Boston and target location for the new high speed rail between Springfield & Boston. The brick building has recently been completely renovated and is a showpiece property in the City. Three story high, brick building with 3 fully rented store fronts and 8 (1) bedroom apartments with hardwood flooring. The building is fully sprinklered. All of the utilities are separate. The common areas have a mixture of wood, brick and beautiful lighting. The apartments are in great condition with open floor plan, high ceilings, oversized windows bringing in lots of natural light.Income and Expense Sheet is attached
This home has been viewed 37 times
Last Checked: May 6th, 2024 at 11:50pm (Source: MLS PIN #73042429)
Gross Income: $42,540
Gross Expenses: $11,197
Net Income Calc: $31,343
CAP Rate: 3.14%
Annual Expenses for 181-187 Chestnut St, Springfield MA 01103
Total Gross Expenses (Calculated)$11,197/year
APOD AvailableYes
Heating
Electricity
Water
Gas
Insurance
Sewer
Trash Removal
Repair & Maintenance
Management
Miscellaneous
Real Estate Tax$11,197.90
Annual Income & Unit Breakdown for 181-187 Chestnut St, Springfield MA 01103
Total Gross Income (Calculated)$42,540
Unit 1
Rental Income$950
LeaseY
Bedrooms0
Bathrooms1 Full
Floor1
Levels in Unit1
HeatingNo
Rent Includes
Unit 2
Rental Income$850
LeaseY
Bedrooms0
Bathrooms1 Full
Floor1
Levels in Unit1
HeatingNo
Rent Includes
Unit 3
Rental Income$850
Lease
Bedrooms0
Bathrooms1 Full
Floor0
Levels in Unit0
HeatingNo
Rent Includes
Unit 4
Rental Income$895
Lease
Bedrooms1
Bathrooms1 Full
Floor2
Levels in Unit1
HeatingNo
Rent Includes
General Information for 181-187 Chestnut St, Springfield MA 01103
Listing ID73042429
Property TypeMulti Family / 5+ Family
Price$999,100 ($85.92/SqFt)
Style5-9 Family
CitySpringfield
CountyHampden
MLS Area
Neighborhood(s)
Approximate Living Area Total11,628 SqFt
Approximate Lot Size (Acres)0.12 acres
Total Parking6
Garage Parking
Year Built1900
Year Built SourcePublic Records
Year Renovated
Year Built DetailsApproximate,Renovated Since
Water
Sewer
Electric
Hot Water
Roof Material
Basement
Construction MaterialsBrick
Lot FeaturesCorner Lot
Foundation Area
Foundation DescriptionBrick/Mortar
Accessible Features
Outdoor Space
ZoningB3
Zoning Details
Water Views
Water Views Features
WaterfrontNo
Waterfront Features
Energy Features
Terms
Disclosures for 181-187 Chestnut St, Springfield MA 01103
Lead Paint
UFFI
Living Area Includes BasementNo
Living Area Disclosure
Building Area SourcePublic Records
Title 5
Exclusions
Disclosures
Financial Data SourceOwner
Total Gross Expenses By Broker$0
Total Gross Income By Broker$118,740
Total Net Income By Broker$91,855
For Sale By OwnerNo
Short Sale / Forclosure (Bank Owned)
Buyer Agent Compensation2.5%%
Facilitator Compensation
Sub-Agent Compensation2.5%
Compensation Based OnNet Sale Price
Financial Information for 181-187 Chestnut St, Springfield MA 01103
Real Estate Taxes$11,197.90
Tax Year2022
Assessed Value$595,000
Financial Data SourceOwner
Total Gross Expenses By Broker$0
BostonRealEstate.com Gross Expenses
Total Gross Income By Broker$118,740
BostonRealEstate.com Gross Income
Total Net Income By Broker$91,855
BostonRealEstate.com Gross NOI
CAP Rate (based on Broker info)
CAP Rate (BostonRealEstate.com)3.14%
Location Information for 181-187 Chestnut St, Springfield MA 01103
Elementary School
Middle School
High School
Neighborhood(s)
MLS Area
Area AmenitiesHighway Access, House Of Worship, Shopping, Medical Facility, Public Transportation, T-station, Private School, University
Contact Information for 181-187 Chestnut St, Springfield MA 01103