$1,055,000
$1,200,000
12.1%For more information regarding the value of a property, please contact us for a free consultation.
309 Bay St Springfield, MA 01109
43 Beds
20 Baths
23,435 SqFt
Key Details
Sold Price $1,055,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 23,435 sqft
Price per Sqft $45
MLS Listing ID 72590606
Sold Date 02/14/20
Bedrooms 43
Full Baths 20
Year Built 1917
Annual Tax Amount $14,368
Tax Year 2019
Lot Size 0.280 Acres
Acres 0.28
Property Sub-Type 5+ Family - 5+ Units Up/Down
Property Description
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.
Location
State MA
County Hampden
Zoning R2
Direction Turn left on Saint James Ave, then Turn right onto Bay St.
Exterior
Roof Type Rubber
Total Parking Spaces 7
Garage No
Building
Lot Description Other
Story 6
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
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Bought with Lisa Cozzi • Berkshire Hathaway Home Service New England Properties