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181-187 Chestnut St, Springfield MA 01103

Active

181-187 Chestnut St, Springfield MA 01103

$1,980,000

Estimated $4,962/month Calculator

Multi Family

Total Units: 11

Price Per Unit: $180,000

Total Rent: 64800/year

Estimated CAP Rate:

8 Bedrooms

Baths

11628

Total Parking: 6

5,249 (0.12)

Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield’s downtown Business Improvement District. The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic brick building has undergone significant renovation and offers an attractive combination of residential and commercial income. The building is fully sprinklered, with separate utilities, beautifully maintained common areas, high ceilings, oversized windows and excellent Chestnut Street visibility. The location continues to strengthen. The Commonwealth has selected nearby 125 Liberty Street for the new Roderick L. Ireland Regional Justice Center, a major long-term investment in this section of downtown Springfield. The courthouse site is only several blocks from the property and is visible from the building, creating a compelling opportunity for an investor to own income-producing real estate in the path of significant public investment. The property is also convenient to Union Station, downtown employers, restaurants, entertainment and major regional transportation routes. With a diversified rent roll consisting of eight residential units and three established commercial tenants, 181–187 Chestnut offers investors an opportunity to acquire a stabilized mixed-use asset with strong current income and a location positioned to benefit from continued downtown investment.11 Units | 3 Commercial + 8 Residential | $183,000 potential Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.

This home has been viewed 3 times

Last Checked: September 18th, 2026 at 9:43am (Source: MLS PIN #73578799)

Gross Income: $64,800

Gross Expenses: $21,013

Net Income Calc: $43,787

Annual Expenses for 181-187 Chestnut St, Springfield MA 01103

Total Gross Expenses (Calculated)$21,013/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax21013

Annual Income & Unit Breakdown for 181-187 Chestnut St, Springfield MA 01103

Total Gross Income (Calculated)$64,800

Unit 1

Rental Income$0

LeaseY

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

Lease

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

Lease

Bedrooms1

Bathrooms1 Full

Rent Includes

General Information for 181-187 Chestnut St, Springfield MA 01103

Listing ID73578799

Property TypeMulti Family / 5+ Family

Price1980000 ($170.28/SqFt)

Style5-9 Family

CitySpringfield

CountyHampden

Neighborhood(s)

Approximate Living Area Total11628

Approximate Lot Size (Acres)0.12

Total Parking6

Garage Parking0

Year Built1900

Year Built SourcePublic Records

Year Built DetailsApproximate,Renovated Since

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningB3

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 181-187 Chestnut St, Springfield MA 01103

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsWasher & Dryer Are Negotiable

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 181-187 Chestnut St, Springfield MA 01103

Real Estate Taxes21013

Tax Year2026

Assessed Value$939,000

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 181-187 Chestnut St, Springfield MA 01103

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 181-187 Chestnut St, Springfield MA 01103

Agent

Name: Anthony Ardolino

Office

Name: Berkshire Hathaway HomeServices Realty Professionals

Phone: 413-596-6711

Payment Calculator

, Interest

Property Taxes 1751.08

Principal & Interest 12200.13

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Berkshire Hathaway HomeServices Realty Professionals

Anthony Ardolino

Agent Phone

Office Phone

(413) 596-6711

Text Agent Call Agent Call Office

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    [description] => Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield’s downtown Business Improvement District.  The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic brick building has undergone significant renovation and offers an attractive combination of residential and commercial income. The building is fully sprinklered, with separate utilities, beautifully maintained common areas, high ceilings, oversized windows and excellent Chestnut Street visibility. The location continues to strengthen. The Commonwealth has selected nearby 125 Liberty Street for the new Roderick L. Ireland Regional Justice Center, a major long-term investment in this section of downtown Springfield. The courthouse site is only several blocks from the property and is visible from the building, creating a compelling opportunity for an investor to own income-producing real estate in the path of significant public investment. The property is also convenient to Union Station, downtown employers, restaurants, entertainment and major regional transportation routes. With a diversified rent roll consisting of eight residential units and three established commercial tenants, 181–187 Chestnut offers investors an opportunity to acquire a stabilized mixed-use asset with strong current income and a location positioned to benefit from continued downtown investment.11 Units | 3 Commercial + 8 Residential | $183,000 potential Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.
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    [unparsed] => 181-187 Chestnut St, Springfield MA 01103
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EXIT

38 More Photos

Active

181-187 Chestnut St, Springfield MA 01103

$1,980,000

Annual Expenses for 181-187 Chestnut St, Springfield MA 01103

Annual Income & Unit Breakdown for 181-187 Chestnut St, Springfield MA 01103

General Information for 181-187 Chestnut St, Springfield MA 01103

Disclosures for 181-187 Chestnut St, Springfield MA 01103

Financial Information for 181-187 Chestnut St, Springfield MA 01103

Location Information for 181-187 Chestnut St, Springfield MA 01103

Contact Information for 181-187 Chestnut St, Springfield MA 01103

Agent

Office

Payment Calculator

Exclusive Listing Agent

Berkshire Hathaway HomeServices Realty Professionals

Anthony Ardolino