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298-302 Belmont Ave, Springfield MA 01108

Active

298-302 Belmont Ave, Springfield MA 01108

$749,900

Estimated $1,953/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $124,983.33

Total Rent: 48000/year

Estimated CAP Rate:

8 Bedrooms

Baths

6415

Total Parking: 6

7,405 (0.17)

Discover an investment opportunity at 298–302 Belmont Avenue in Springfield! This six-unit property features four residential apartments and two occupied commercial spaces. The seller has a transferable special permit in hand allowing the commercial spaces to be converted into residential units, giving the buyer an opportunity to increase rental income and build additional equity.All units have separate utilities, which are paid by the tenants. The property underwent extensive renovations in 2022, including a new roof, furnaces, hot water tanks, plumbing and electrical systems, a hardwired fire alarm system, and heating and central air in five units. Each residential apartment features two bedrooms, a living room, dining room, kitchen, and full bathroom, offering the potential to reconfigure the layout into a three-bedroom unit if desired. All four residential units have central air conditioning and lead certificates. Two apartments have laundry hookups inside their units. Both first-floor commercial spaces contain two rooms; one has a full bathroom, while the other has a half bathroom. With plumbing already installed in the commercial spaces, much of the groundwork for the residential conversion is already in place, subject to applicable requirements and approvals.With commercial tenants already in place, the property offers income from day one. Additional features include off-street parking in a private lot behind the building. Whether maintaining the current mixed-use configuration or pursuing the permitted residential conversion, this property offers multiple opportunities for future growth. Don’t miss out on this unique investment opportunity!

This home has been viewed 30 times

Last Checked: September 26th, 2026 at 6:03am (Source: MLS PIN #73580589)

Gross Income: $48,000

Gross Expenses: $8,843

Net Income Calc: $39,157

Annual Expenses for 298-302 Belmont Ave, Springfield MA 01108

Total Gross Expenses (Calculated)$8,843/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax8843.52

Annual Income & Unit Breakdown for 298-302 Belmont Ave, Springfield MA 01108

Total Gross Income (Calculated)$48,000

Unit 1

Rental Income$0

LeaseY

Bedrooms0

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

LeaseY

Bedrooms2

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

General Information for 298-302 Belmont Ave, Springfield MA 01108

Listing ID73580589

Property TypeMulti Family

Price749900 ($116.9/SqFt)

Style5+ Family - 5+ Units Up/down

CitySpringfield

CountyHampden

Neighborhood(s)

Approximate Living Area Total6415

Approximate Lot Size (Acres)0.17

Total Parking6

Garage Parking0

Year Built1910

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof Material

BasementFull

Construction Materials

Lot Features

Foundation Description

Accessible Features

Outdoor Space

ZoningB1

Water Views

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 298-302 Belmont Ave, Springfield MA 01108

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsWall Mounted Tv's-Brackets To Remain

Financial Data Source

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 298-302 Belmont Ave, Springfield MA 01108

Real Estate Taxes8843.52

Tax Year2025

Assessed Value$564,000

Financial Data Source

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 298-302 Belmont Ave, Springfield MA 01108

Neighborhood(s)

Area Amenities

Contact Information for 298-302 Belmont Ave, Springfield MA 01108

Agent

Name: Jessica Mekal

Office

Name: Lock and Key Realty Inc.

Phone: 413-282-8080

Payment Calculator

, Interest

Property Taxes 736.96

Principal & Interest 4620.65

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Lock and Key Realty Inc.

Jessica Mekal

Agent Phone

Office Phone

(413) 282-8080

Text Agent Call Agent Call Office

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EXIT

36 More Photos

Active

298-302 Belmont Ave, Springfield MA 01108

$749,900

Annual Expenses for 298-302 Belmont Ave, Springfield MA 01108

Annual Income & Unit Breakdown for 298-302 Belmont Ave, Springfield MA 01108

General Information for 298-302 Belmont Ave, Springfield MA 01108

Disclosures for 298-302 Belmont Ave, Springfield MA 01108

Financial Information for 298-302 Belmont Ave, Springfield MA 01108

Location Information for 298-302 Belmont Ave, Springfield MA 01108

Contact Information for 298-302 Belmont Ave, Springfield MA 01108

Agent

Office

Payment Calculator

Exclusive Listing Agent

Lock and Key Realty Inc.

Jessica Mekal