Active
8 beds11,628 sqft
181-187 Chestnut St, Springfield, MA 01103
Est: $12,321/moGet pre-approved
Multi FamilyProperty Type
0.12 acresLot Size
1900Year Built
$170/sq ftPrice per sq ft
6 carsParking Spaces

Description

Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield’s downtown Business Improvement District. The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic...Exceptional Downtown Springfield Mixed-Use Investment Opportunity. 181–187 Chestnut Street is a well-maintained 11-unit mixed-use asset consisting of three street-level commercial spaces and eight one-bedroom apartments in the heart of Springfield’s downtown Business Improvement District. The property offers approximately $183,000 in potential gross annual rental income at full occupancy, reflecting substantial rent growth and improved income performance. The approximately 11,628-square-foot historic brick building has undergone significant renovation and offers an attractive combination of residential and commercial income. The building is fully sprinklered, with separate utilities, beautifully maintained common areas, high ceilings, oversized windows and excellent Chestnut Street visibility. The location continues to strengthen. The Commonwealth has selected nearby 125 Liberty Street for the new Roderick L. Ireland Regional Justice Center, a major long-term investment in this section of downtown Springfield. The courthouse site is only several blocks from the property and is visible from the building, creating a compelling opportunity for an investor to own income-producing real estate in the path of significant public investment. The property is also convenient to Union Station, downtown employers, restaurants, entertainment and major regional transportation routes. With a diversified rent roll consisting of eight residential units and three established commercial tenants, 181–187 Chestnut offers investors an opportunity to acquire a stabilized mixed-use asset with strong current income and a location positioned to benefit from continued downtown investment.11 Units | 3 Commercial + 8 Residential | $183,000 potential Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.
17 days on Market
  • Listed by: Anthony Ardolino • Berkshire Hathaway HomeServices Realty Professionals
Last updated: 09/21/2026 03:10 AM • Source: MLS PIN, MLS#: 73578799

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Location

Listing Courtesy of Berkshire Hathaway HomeServices Realty Professionals, Anthony Ardolino
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$12,321 per month

30 year fixed, 7.03% Interest

Principal and Interest

$10,570

Property Taxes

$1,751

HOA Dues

$0

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Property Information for 181-187 Chestnut Street

Property Details
  • Taxes: $21,013 / year
  • MLS Type: Multi-family / 5-9 Family
  • Town: Springfield
  • Area: MA-Springfield
  • Garage Spaces: 0
  • Open Parking Spaces: 6.00
  • Parking Spaces Total: 6
Building Information
  • Stories: 3
  • Residences: 11
  • Year Built: 1900
  • Lot Size: 0.12 AC / 5,249 SF
General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Medical Facility, Highway Access, House of Worship, Private School, T-Station, University
  • Living Area: 11628.0
  • Color: Brick
  • SqFt with Basement: No
  • Total Units: 11
  • Waterfront: No
  • Year Built Details: Approximate,Renovated Since
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Full
  • Num of Baths: 11.0
  • Num of Full Baths: 11
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 11.00
  • Bathrooms Total Integer: 11
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Tile, Hardwood
  • SpaYN: No
Exterior Features
  • Construction: Brick
  • Exterior Features: Deck
  • Lot Description: Corner Lot
  • Patio And Porch Features: Deck
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive, Off-Street
  • Open Parking: Yes
  • Parking Features: Paved Drive, Off-Street
  • Parking Features: Off-Street
Utilities
  • Electric: Circuit Breakers
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: All financials are As Per Owner. Buyer and Buyers Agent to verify all information. Seller intends to complete a 1031 tax-deferred exchange. Buyer to cooperate with Seller’s 1031 exchange
Tax Information
  • Tax ID: S:02750 P:0513,2578178
  • Assessments: $939,000
  • Book: 17588
  • Tax Year: 2026
  • Zoning: B3
Building / Association Information
Living Characteristics
  • Beds Total: 8
  • Total Living Levels: 3
Other Building Characteristics
  • Foundation: Brick/Mortar
  • Levels: 3
Income / Expenses
  • Annual Expenses Source: Owner
  • GOI: $183,000.00
  • GRE: $38,963
  • NOI: $144,036.00
  • Operating Expense: $38,963.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 2
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 2
  • Levels U3: 1
Rental Info
Rental Info
  • Total Actual Rent: $15,250.00

Property History for 181-187 Chestnut Street

DateEvent & SourcePriceAppreciation
Sep 17, 2026

Listed (Active)

MLS PIN #73578799

$1,980,000—
Feb 9, 2023

Sold

MLS PIN #73042429

$960,000—
Jan 19, 2023

Price Change

MLS PIN #73042429

$999,100—
DateEvent & SourcePrice
09/17/2026

Listed (Active)

MLS PIN #73578799

$1,980,000
02/09/2023

Sold

MLS PIN #73042429

$960,000
01/19/2023

Price Change

MLS PIN #73042429

$999,100

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 181-187 Chestnut Street

This home is within Springfield School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lincoln Elementary School
PublicPK to 5

Putnam Vocational Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

181-187 Chestnut Street is a multi-family home for sale in Springfield, MA 01103. This property was listed for sale on September 17, 2026 by Berkshire Hathaway HomeServices Realty Professionals, it's currently listed at $1,980,000. It has been on the market for a total of 17 days and was last sold on February 9, 2023. This listing's school district is Springfield School District. Nearby schools include Lincoln Elementary School, Chestnut Accelerated Middle School (Talented And Gifted) and High School of Science and Technology (Sci-Tech). 181-187 Chestnut Street is a 8-bed, 11-bath, 11,628 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices Realty Professionals, Anthony Ardolino

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.