Sold
Last Sold Price
43 beds23,435 sqft
309 Bay St, Springfield, MA 01109
Multi FamilyProperty Type
0.28 acresLot Size
1917Year Built
$45/sq ftPrice per sq ft
7 carsParking Spaces

Description

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 &...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.
  • Listed by: Lisa Cozzi • Berkshire Hathaway Home Service New England Properties
Listing closed: 02/14/2020 12:00 AM • Source: MLS PIN, MLS#: 72590606

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Location

Listing Courtesy of Berkshire Hathaway Home Service New England Properties, Lisa Cozzi

Sold By Berkshire Hathaway Home Service New England Properties, Lisa Cozzi

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Payment Calculator

$6,649 per month

30 year fixed, 6.71% Interest

Principal and Interest

$5,452

Property Taxes

$1,197

HOA Dues

$0

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Property Information for 309 Bay Street

Property Details
  • Taxes: $14,368 / year
  • MLS Type: Multi-family / 5+ Family - 5+ Units Up/Down
  • Town: Springfield
  • Area: MA-Springfield
  • Garage Spaces: 0
  • Open Parking Spaces: 7.00
  • Parking Spaces Total: 7
Building Information
  • Stories: 6
  • Residences: 16
  • Year Built: 1917
  • Lot Size: 0.28 AC / 12,196 SF
General Details
Property Details
  • Building Area Units: Square Feet
  • Current Financing: Other
  • Living Area: 23435.0
  • Total Units: 16
  • Waterfront: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Num of Baths: 20.0
  • Num of Full Baths: 20
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 20.00
  • Bathrooms Total Integer: 20
  • FireplaceYN: No
  • Fireplaces: 0
Exterior Features
  • Construction: Frame
  • Lot Description: Other
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • Lot Size Units: Acres
Tax Information
  • Tax ID: 2572973
  • Assessments: $871,900
  • Book: 112
  • Tax Year: 2019
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 43
  • Total Living Levels: 6
Other Building Characteristics
  • Foundation: Brick/Mortar
Income / Expenses
  • GOI: $200,760.00
  • NOI: $132,194.00
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 1
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 4
  • Lease U3: Y
  • Levels U3: 4
Rental Info
Rental Info
  • Total Actual Rent: $2,030.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.5
  • Selling Broker Comp: 2.5
  • Other Agent Compensation: 0

Property History for 309 Bay Street

DateEvent & SourcePriceAppreciation
Feb 14, 2020

Sold

MLS PIN #72590606

$1,055,000
Feb 5, 2020

Under Agreement

MLS PIN #72590606

Feb 5, 2020

Contingent

MLS PIN #72590606

DateEvent & SourcePrice
02/14/2020

Sold

MLS PIN #72590606

$1,055,000
02/05/2020

Under Agreement

MLS PIN #72590606

02/05/2020

Contingent

MLS PIN #72590606

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

Public Records for 309 Bay Street

Taxable ValueLand$240,000Additions$1,273,500Total$1,513,500
Tax Record2025$23,732 ($1,978 / month)
Home Facts
Total Finished SqFt23,435 SqFtAbove Grade Finished SqFt23,435 SqFtStories4Lot Size12,236 SqFtStyleMulti-Family Res (5+ Units)Year Built1917ZoningR2CountyHAMPDENAPNSPRI S:01085 P:0399

Schools near 309 Bay 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
Rebecca M Johnson School
PublicPK to 5

Van Sickle Academy
Public6 to 8

High School Of Commerce
Public9 to 12

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.

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Listing Courtesy of Berkshire Hathaway Home Service New England Properties, Lisa Cozzi

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.