RARE 10.8% CAP RATE – 16% CASH ON CASH 4-UNIT INVESTMENT IN FOREST PARK. Presenting a premier high-yield asset at 127 Dickinson St, a 4-unit residential portfolio offering immediate double-digit returns. This legal 4-family features four spacious 2-bedroom/1-bath units, providing a robust unit mix for the Springfield market. The building has undergone significant capital improvements, including updated electrical (circuit breakers), plumbing, and newer hot water heaters. Interiors feature refreshed kitchens, updated flooring, and fresh paint in 2 of 4 units. While currently stabilized, an identified 17% rental upside exists by transitioning current rents to market levels. Situated on a prominent corner lot in the Forest Park neighborhood. Features include 4 dedicated off-street parking spaces, private porches for each unit, and a fenced-in yard. Separated utilities (Natural Gas & Electric). This asset delivers on every metric. Full underwriting package available upon request.
- Heating System:
- Electric, Natural Gas
- Cooling System:
- No
- Basement:
- Full, Unfinished
- Construction:
- Frame
- Sewer:
- Public Sewer
- Water:
- Public
- Disclosure
- Garage Parking
- Lead Paint:
- Unknown
- Rent Fee Includes:
- Unit 1(water), Unit 2(water), Unit 3(water)
- Area:
- Forest Park
- Parking Spaces:
- 2
- Tax Year:
- 2024
- Status:
- Active
- Price Per Sqft:
- $63
- Zoning:
- R3
- No Units:
- 4
- Orig Price:
- $459,000
- LEASE:
- Yes
- Waterfront:
- No
- MlsStatus:
- New
- City:
- Springfield
- State:
- MA
- County:
- Hampden
- Postal Code:
- 01108
- Longitude:
- W73° 26' 2''
- Latitude:
- N42° 5' 26.8''
Residential Income
127 Dickinson St, Springfield, Massachusetts
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Price :
- $459,000
- Bedrooms :
- 7
- Rooms :
- 16
- Total Bathrooms :
- 4
- Full Bathrooms :
- 4
- Square Footage :
- 7,290 Sqft
- Year Built :
- 1909
- Lot Area :
- 0.16 Acre
- Listing ID :
- 73469357
- Stephen E. Robb
- View website
- 617-212-0251
-
srobb@robbenterprises.com
