216 Pearl Street

Springfield, MA 01105

$5,500,000
Price
—
Beds
52
Baths
47,980 Sq. Ft.
$115 / Sq. Ft.
47,980
Sq. Ft.
$115
per Sq. Ft.

Description

Attention apartment investors! 216-226 Pearl Street consists of a total of 52 units (two adjacent buildings of 26 units each). $72k monthly rents (proforma). The building sits in the center of Springfield behind STCC; walking distance to downtown; and conveniently located with easy access to both the 291 and 91 freeways. Consists mostly of 2 and 3 bedroom units. Some tenants have mobile vouchers with local housing agencies and an 8-unit section of building is master leased (extended in Feb 2023 for...Attention apartment investors! 216-226 Pearl Street consists of a total of 52 units (two adjacent buildings of 26 units each). $72k monthly rents (proforma). The building sits in the center of Springfield behind STCC; walking distance to downtown; and conveniently located with easy access to both the 291 and 91 freeways. Consists mostly of 2 and 3 bedroom units. Some tenants have mobile vouchers with local housing agencies and an 8-unit section of building is master leased (extended in Feb 2023 for 2 years). Tons of capital work put into this building - new roof (APO 2018); new heating systems; porch removals; nearly 50 units turned over; and much more. Offering Memorandum, Rent Roll, and Capital Expense list in attachments.
  1. Listed by Zuleika Rivera • CP Property Group, LLC
  2. Listed by Robert Couture • CP Property Group, LLC
  3. Listed by Veronique Leroy • CP Property Group, LLC
  4. Listed by Tiffany Pryor • CP Property Group, LLC

Property Details for 216 Pearl Street

Town
Springfield
Area
MA-Springfield
Garage Spaces
0
Parking Spaces
36.00
Parking Spaces Total
36

Location

Listing Courtesy of CP Property Group, LLC, Zuleika Rivera; CP Property Group, LLC, Robert Couture; CP Property Group, LLC, Veronique Leroy; CP Property Group, LLC, Tiffany Pryor
Add your commute
LISTING UPDATED: 02/25/2024 03:06 AM

Property Details for 216 Pearl Street

StatusActive
MLS #73076462
Days on Market376
Taxes$29,845 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - 5+ Units Up/Down
Year Built1914
CountyHampden County

Location

Listing Courtesy of CP Property Group, LLC, Zuleika Rivera; CP Property Group, LLC, Robert Couture; CP Property Group, LLC, Veronique Leroy; CP Property Group, LLC, Tiffany Pryor
Add your commute

Building Information for 216 Pearl Street

Stories4Residences52Year Built1914Building Size-Lot Size0.44 AC / 19,140 SF

Payment Calculator

$32,503 per month

30 year fixed, 7.25% Interest

Principal and Interest

$30,016

Property Taxes

$2,487

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 216 Pearl Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Living Area: 47980.0
  • SqFt with Basement: No
  • Total Units: 52
  • Waterfront: No
  • Water View: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Interior Access, Concrete Floor
  • Num of Baths: 52.0
  • Num of Full Baths: 52
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 52.00
  • Bathrooms Total Integer: 52
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive
  • Open Parking: Yes
  • Parking Features: Paved Drive
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: Broker has an ownership interest in the property.
Tax Information
  • Tax ID: S:09585 P:0140,4694555
  • Assessments: $1,585,800
  • Book: 17071
  • Tax Year: 2022
  • Zoning: RC
Building / Association Information
Living Characteristics
  • Beds Total: 0
  • Total Living Levels: 4
Other Building Characteristics
  • Foundation: Other
Income / Expenses
  • GOI: $862,673.00
  • GRE: $367,350
  • NOI: $452,189.00
  • Operating Expense: $367,350.00
Complex & Association Information
  • Adult Community: No
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
Rental Info
Rental Info
  • Total Actual Rent: $2,704.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2
  • Other Agent Compensation: 1

Property History for 216 Pearl Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 216 Pearl Street

Taxable ValueLand$236,600Additions$1,376,100Total$1,612,700
Tax Record2023$27,497 ($2,291 / month)
Home Facts
Baths1Total Finished SqFt37,790 SqFtAbove Grade Finished SqFt37,790 SqFtStories4Lot Size19,140 SqFtStyleMulti-Family Res (5+ Units)Year Built1914Year Renovated2007ZoningRCCountyHAMPDENAPNSPRI S:09585 P:0140

Schools near 216 Pearl Street

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

High School/Science-Tech
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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

216 Pearl Street is a multi-family home for sale in Springfield, MA 01105. This property was listed for sale on February 5, 2023 by CP Property Group, LLC, it's currently listed at $5,500,000. It has been on the market for a total of 376 days and was last sold on December 14, 2007. This listing's school district is Springfield School District. Nearby schools include Lincoln, Chestnut Accelerated Middle School (Talented And Gifted) and High School/Science-Tech. 216 Pearl Street is a 0-bed, 52-bath, 47,980 sqft multi-family home built in 1914.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CP Property Group, LLC, Zuleika Rivera; CP Property Group, LLC, Robert Couture; CP Property Group, LLC, Veronique Leroy; CP Property Group, LLC, Tiffany Pryor

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.