Springfield, MA Real Estate Search

Springfield, MA 6+ Bathrooms Homes for Sale

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Newest Springfield, MA 6+ Bathrooms Homes for Sale

664-668 Page Blvd, Springfield
$849,900
12 Beds ⋅ 6 Baths ⋅ 73589901 MLS
Rare Licensed 12-Room Lodging House + Renovated Tavern/RestaurantUnique opportunity to acquire an established mixed-use income-producing property consisting of a 12-room licensed lodging house and first-floor operating tavern/restaurant.The property currently has approximately $9,700 per month in scheduled base rent, or $116,400 annually, before additional expense reimbursements from the Tavern.A particularly important feature is the property's existing lodging-house license. Ownership considers this license to be an unusually scarce asset in Springfield and believes the licensed use may carry meaningful strategic value in addition to the property's current income stream. Prospective purchasers should independently verify license status, renewal requirements, transferability/change-of-control requirements and any required municipal approvals.The lodging operation also benefits from an established relationship with a local social service organization. The organization regularly places participating clients into available rooms. Caseworkers assist with resident issues, while the organization administers participating residents' funds and handles rent payments on their behalf. Ownership reports that this relationship has historically resulted in very limited vacancy and rapid refill of rooms when they become available.The first-floor Tavern is leased at $1,500 per month base rent, with the tenant also responsible for 50% of real estate taxes and 50% of the property's water expense.Ownership completed a substantial renovation of the restaurant in 2023, investing approximately $300,000 into the space. The interior was substantially renewed, with essentially everything inside new at completion.

664-668 Page Blvd, Springfield

298-302 Belmont Ave, Springfield
$749,900
8 Beds ⋅ 6 Baths ⋅ 73580589 MLS
Discover an investment opportunity at 298–302 Belmont Avenue in Springfield! This six-unit property features four residential apartments and two occupied commercial spaces. The seller has a transferable special permit in hand allowing the commercial spaces to be converted into residential units, giving the buyer an opportunity to increase rental income and build additional equity.All units have separate utilities, which are paid by the tenants. The property underwent extensive renovations in 2022, including a new roof, furnaces, hot water tanks, plumbing and electrical systems, a hardwired fire alarm system, and heating and central air in five units. Each residential apartment features two bedrooms, a living room, dining room, kitchen, and full bathroom, offering the potential to reconfigure the layout into a three-bedroom unit if desired. All four residential units have central air conditioning and lead certificates. Two apartments have laundry hookups inside their units. Both first-floor commercial spaces contain two rooms; one has a full bathroom, while the other has a half bathroom. With plumbing already installed in the commercial spaces, much of the groundwork for the residential conversion is already in place, subject to applicable requirements and approvals.With commercial tenants already in place, the property offers income from day one. Additional features include off-street parking in a private lot behind the building. Whether maintaining the current mixed-use configuration or pursuing the permitted residential conversion, this property offers multiple opportunities for future growth. Don’t miss out on this unique investment opportunity!

298-302 Belmont Ave, Springfield

181-187 Chestnut St, Springfield
$1,880,000
8 Beds ⋅ 11 Baths ⋅ 73578799 MLS
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 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 Gross Annual Rent | 11,628 SF | $1,988,000 Asking Price | Downtown Springfield | New Regional Justice Center Nearby.

181-187 Chestnut St, Springfield

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