For Sale
$1,050,000

705 Carew StSpringfield, MA 01104

High-yield MA multifamily investment.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a portfolio of five properties in Springfield, Massachusetts, totaling six units and 6,120 square feet. Priced at $1,050,000 with a 6.30% cap rate and 100% occupancy, this value-add portfolio offers significant upside potential. The portfolio comprises three single-family homes located on Bernard Street (15, 21, and 27), one single-family home on Benham Street (36), and a two-family home at 705-707 Carew Street. The single-family units range in size from two bedrooms and one bathroom to four bedrooms and 1.5 bathrooms. Tenants in the single-family homes are responsible for all utilities, including water and sewer. The duplex tenants have separate electric meters. This streamlined utility setup simplifies property management. The portfolio's diverse unit sizes and the potential for renovations present a compelling opportunity for investors seeking to build a substantial portfolio in a thriving Springfield market. This is an ideal investment for both buy-and-hold strategies and those seeking renovation or flip opportunities. Each property can be acquired and repositioned independently, offering flexibility and diverse investment options. The portfolio's strong occupancy rate and current cash flow provide a solid foundation for future growth and returns. This is a rare opportunity to acquire a substantial multifamily portfolio in a single transaction.

Highlights

  • Five-property portfolio in Springfield, MA, offering significant value-add potential.
  • Ideal for buy-and-hold or renovation/flip strategies.
  • Individual properties can be repositioned separately.
  • $1,050,000 asking price, 6.30% cap rate, 100% occupancy.
  • Six total units across five buildings, totaling 6,120 square feet.
  • Class C multifamily investment property.

Property Details for 705 Carew St

Property type
Residential income homes, Apartment buildings
Square Feet
6,120 SF
Class
C
Buildings
5
Units
6

Location Insight

City
Springfield
County
Hampden
State
Massachusetts
Latitude
42.1238685
Longitude
-72.585831
705 Carew St, Springfield, Massachusetts

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705 Carew St
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