447-451 State St.

Springfield, Massachusetts

Street View

Huge price drop!! Potential to earn $5,800+ monthly rental income! Undervalued 6 unit building consisting of 2 retail storefronts and 4 residential units under $250k! Steady long-term rental income from 2 storefront units leased until 6/2025 by pizza store at current monthly rent of $2,400 w/ annual rent increases. Pizza store has additional 5-year renewal option (from 6/2025 – 6/2030) at monthly rent from $2,700 - $2,900. Custom renovate the 4 apartments and earn almost $6k per month of rental income making this undervalued building a cash cow!
Property Detail
Bedrooms 8
Bathrooms 5
Property Type Multi-Family
Year Built 1900
Home Size 7,143 sqft
Lot Size 0.0762 Acres
MLS# 72555674
County County
Features
Listing Agent: Sophie Kozaczka Broker: Keller Williams Realty Greater Worcester Broker Phone: 5087543020
Location

Springfield 447-451 State St.

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Neighborhood Info

Springfield - 01105

The vacancy rate of homes in 01105 is 9.26% with 11.42% of homes being owner-occupied. The median household income in 01105 is $19438 per year with those between 25 and 44 having the highest median income at $23840.

School in Springfield, MA
School Type Grade Distance
High School Of Commerce Public 9-12 0.09 mi
South End Middle School Public 6-8 0.78 mi
Veritas Preparatory Charter School Public 5-8 0.92 mi
Neighborhood Demographic

Demographic in Springfield - 01105

Median Income $19438
Avg Household Size 2.272
Median Age 31.76
White Collars 44%
College Grad 26%
Copyright 2019 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Home TypeMulti-Family
Year Built1900
Lot Size0.0762 Acres

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