Hampden County Homes with 5+ Family - Rooming House Subtype

Welcome to Hampden County, a vibrant region nestled in the heart of Massachusetts, where rich history meets modern living. Springfield, the county seat, is renowned for its cultural landmarks, including the Dr. Seuss National Memorial Sculpture Garden and the Basketball Hall of Fame. With a diverse population and a dynamic economy, Hampden County offers a unique blend of urban convenience and suburban charm.

One of the most intriguing real estate opportunities in this area is the availability of homes with a 5+ family rooming house subtype. These multi-family properties are perfect for investors looking to tap into Springfield’s thriving rental market. With a growing demand for affordable housing, owning a rooming house can be a lucrative venture, providing steady income and the potential for long-term appreciation.

These spacious homes are designed to accommodate multiple tenants, featuring several individual rooms, shared common areas, and often, convenient amenities. The strategic location of these properties allows residents easy access to public transportation, shopping centers, and local attractions, making them highly desirable for renters.

In Hampden County, you’ll find a diverse range of neighborhoods, each with its own unique character. From the bustling downtown area filled with restaurants and entertainment options to the quieter suburban streets ideal for families, there’s something for everyone. Investing in a multi-family home in Springfield not only offers financial benefits but also contributes to the community by providing much-needed housing solutions.

Explore the possibilities in Hampden County today, and discover how you can make a smart investment in one of Massachusetts’ most promising regions!

Newest Hampden County Homes with 5+ Family - Rooming House Subtype

$849,900

12 Beds ⋅ 2 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

Listing courtesy of Listing Agent: Anthony Ardolino from Listing Office: Berkshire Hathaway HomeServices Realty Professionals.

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