Springfield Homes with 5+ Family - 5+ Units Up/Down Subtype

Welcome to Springfield, Massachusetts, a vibrant city nestled in the heart of Hampden County. Known for its rich history, Springfield is the birthplace of basketball and home to the renowned Dr. Seuss Museum. This dynamic city offers a blend of cultural attractions, recreational opportunities, and a diverse community, making it an ideal place for families, young professionals, and retirees alike.

Springfield boasts a variety of residential options, particularly for those looking to invest in multifamily properties. With a focus on homes featuring 5+ units, these up/down subtypes present an excellent opportunity for both seasoned investors and first-time buyers. These properties are not just a smart investment; they also provide the chance to create a thriving community. Imagine owning a well-maintained building where families can establish roots, or young professionals can enjoy the convenience of urban living.

The multifamily homes in Springfield are strategically located near essential amenities, including schools, parks, shopping centers, and public transportation. This accessibility enhances the appeal for potential tenants, ensuring a steady rental income. Additionally, the city's ongoing revitalization efforts and economic growth promise a bright future for real estate investors.

Whether you are looking to expand your portfolio or dive into the world of real estate for the first time, Springfield’s multifamily homes offer an attractive opportunity. Discover the charm of this historic city and the potential that comes with owning a piece of Springfield’s vibrant community. Your investment journey starts here!

Newest Springfield Homes with 5+ Family - 5+ Units Up/Down Subtype

$1,650,000

25 Beds ⋅ 17 Baths ⋅ 73538738 MLS

Exceptional investment opportunity in Springfield,MA! 683-687 State Street features 17 units, including 15 residential apartments and 2 commercial spaces. The unit mix consists of (9) one-bedroom, (2) two-bedroom, and (4) three-bedroom apartments, with all but two units updated within the past 24 months. The property currently has one vacant 3-bedroom unit and two vacant commercial spaces, creating immediate upside potential. One commercial space offers over 2,600 sq. ft. and is ideal for a laundromat, retail, office, or other business use. Ownership pays heat and hot water, while tenants pay their own electric (separately metered). Ten of the 15 residential units are subsidized, providing stable rental income.The property currently generates approximately $19,000 per month in gross rental income, with upside still available. Excellent cash flow and value-add opportunity. Don't miss out!

683-687 State St, Springfield

Listing courtesy of Listing Agent: Jessica Mekal from Listing Office: Lock and Key Realty Inc..

$689,000

10 Beds ⋅ 7 Baths ⋅ 73508748 MLS

Great investment opportunity - This mixed-use property offers a total gross building area of approximately 9,494 square feet and includes two storefronts, three residential units above the commercial space, and a separate two-family in the rear, providing multiple income streams and long-term tenant stability. The left storefront includes a large display window, two spacious rooms and oil heat. The right storefront offers a prominent display window, open layout, and gas heat. Above the storefronts are three residential units: a three-bedroom one-bath unit with oil heat, hardwood floors, and a rear porch; a two-bedroom one-bath unit (vacant) with gas heat, hardwood floors, and rear and side. porch; and a one-bedroom one-bath unit with gas heat, hardwood floors, and a porch. In the rear of the property is a separate two-family featuring a three-bedroom one-bath unit with a front porch and gas heat, as well as a two-bedroom one-bath unit with a front porch and gas heat.

26-28 Parker St, Springfield

Listing courtesy of Listing Agent: Pablo Ottenwalder from Listing Office: Premier Choice Realty.

$2,090,000

17 Beds ⋅ 17 Baths ⋅ 73504070 MLS

Exceptional investment opportunity at 91 E Park Street! This 17-unit apartment building consists entirely of one-bedroom apartments, offering a desirable and easy-to-manage unit mix with strong rental demand. Currently generating approximately $21,153 in gross monthly income, the property has only one vacant unit, providing immediate upside through lease-up.The consistent unit configuration supports operational efficiency, simplified management, and stable occupancy. Conveniently located minutes from MGM Springfield, downtown Springfield, major highways, public transportation, shopping, and local amenities, the property is well-positioned to attract and retain tenants.Whether you're looking to expand your portfolio or acquire a stabilized multifamily asset with additional income potential, 91 E Park Street presents a strong investment opportunity in Springfield's growing rental market.

91 E Park St, Springfield

Listing courtesy of Listing Agent: Raquel Medina from Listing Office: Lock and Key Realty Inc..

$2,000,000

23 Beds ⋅ 16 Baths ⋅ 73501818 MLS

120–122 Central Street presents a rare opportunity to acquire a 16-unit asset in a prime Springfield location, just minutes from the Naismith Memorial Basketball Hall of Fame and MGM Springfield. Perfect for a 1031 exchange this property features a strong unit mix of (7) two-bedroom apartments and (9) one-bedroom apartments, catering to a wide tenant base.With gross rents exceeding $22,000 per month, this building offers immediate cash flow and solid investment performance. All 16 units have lead certificates, providing added compliance and peace of mind for ownership.Positioned in a high-demand rental area with close proximity to major attractions, employment centers, and amenities, with a large off street parking lot this is a turnkey opportunity for investors looking to scale their portfolio with a stabilized, income-producing asset.

120-122 Central St, Springfield

Listing courtesy of Listing Agent: Andrew Rodman from Listing Office: Lock and Key Realty Inc..

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