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309 Bay St
Springfield, MA 01109
Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Building Size | 23,435 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1917 |
| Building Class | C | Parking Ratio | 0.34/1,000 SF |
| Lot Size | 0.28 AC | ||
| Zoning | R2 | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 23,435 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1917 |
| Parking Ratio | 0.34/1,000 SF |
| Zoning | R2 |
ABOUT 309 BAY ST , SPRINGFIELD, MA 01109
OPEN HOUSE 12/13/19. PLEASE EMAIL ME IF YOU WOULD LIKE TIME & OM. Confirmation required! 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.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 3+1 | 7 | - | - |
| 3+2 | 4 | - | - |
PROPERTY TAXES
| Parcel Number | SPRI-001085-000000-000399 | Improvements Assessment | $1,273,500 |
| Land Assessment | $240,000 | Total Assessment | $1,513,500 |
PROPERTY TAXES
