See Home Value
$2,359,560
● Commercial - Off Market

1 Various #39

Springfield, MA
bedrooms
Studio
bathrooms
0 Bath
square feet
29,109 Ft²
$3,076,712
RealtyHop Estimate
47.00%
Since Jul 1, 2019
National-US
Primary Model

About This Property

UNIQUE Multi Family Assemblage of 11 Properties, 39 Units.The package consists of 4 - Single Family properties, 5 - Two Family properties, 1 - Three Family property and a 22 Unit Multi Family property on 334 Boston Rd (Crown Jewell).     Value = $2,093,000  Potential Income = $356,900  Vacancy & Credit Loss = ($17,000}  The Gross Operating Income = $339,900  Expenses = $117,227. Expenses are 35% of GOI which seems to be below market average, but because rents are above market average Expenses are in line.  Net Operating Income = $222,673  Proposed Annual Debt Service = $116,656 ($1,650,000, 5.25% Interest, 25 Year Amortization)  Cash Flow Before Taxes = $104,017  Debt Coverage Ratio = 1.88. Banks like to see 1.25 DCR.  CAP Rate = 10.64%  Loan to Value = 78.83%  Cash on Cash Return = 23.48%
Unit Size
29,109 Ft²
Days on Market
-
Land Size
1.33 acres
Price per sqft
$72
Property Type
Commercial
Property Taxes
$2,815
HOA Dues
-
Year Built
-

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Last updated: 5 months ago (MLSPIN #72360360)

Price History

Date / Event Date Event Price
Jun 21, 2019 Sold
Sold
Jul 11, 2018 Listed by DiFranco Realty $2,093,000
Listed by DiFranco Realty

Property Highlights

Exterior Details
Square Footage: 29109
Year Built: 1950
Building Area Total: 29109
Building Area Units: Square Feet
Lot Size Area: 1.33
Lot Size Units: Acres
Lot Size Acres: 1.33
Lot Size Square Feet: 58000
Financial Details
Tax Annual Amount: $33,781

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

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