128 Mill St - Apartments FOR SALE


Springfield, MA 01108- South End Hampden
$1,265,000 USD
128 Mill St, Springfield, MA for Sale
$1,265,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

128 Mill St
Springfield, MA 01108
South End Hampden


HIGHLIGHTS

  • 5 Year Old High Efficiency Boiler
  • Newer On Demand High Efficiency HW
  • Below Market Rents - Amazing Value Add Position
  • Convenient & Central Location
  • Additional 15th Unit - Spacious Finished Attic for Additional Rental Potential

OVERVIEW

Rare investment opportunity in the heart of Springfield! This 14 unit property offers a blend of historic character & modern functionality. The front building, built 1910, features 6 units with timeless charm including original woodwork & decorative fireplaces - plus a large, finished attic unit offering additional rental income potential. Connected at the rear, the 1975-built addition has 8 units, each with tenant paid electric. The property has recently received many updates including a 5 year old high efficiency boiler (owner paid heat/hot water), along with a newer on-demand hot water system. Several units have been recently renovated & the back building has been sub-metered to enhance operational efficiency. There is a large basement with space for on-site office build-out as well. With ample off-street parking and a convenient location near public transportation, employers, and major highways, this is an ideal investment opportunity in a thriving multifamily market! 9.7% Proforma!

FOR SALE DETAILS

PRICE

$1,265,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

15

PRICE/UNIT

$84,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R3

APN/PARCEL ID

SPRI-008675-000000-000052

ASK ABOUT THIS PROPERTY

Maddy CerutiCentury 21 Allpoints RealtyMore Info

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Maddy CerutiCentury 21 Allpoints RealtyMore Info

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