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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.

More Info

Basic Information

  • Gross Income $84,540
  • Mls StatusActive
  • Parcel Number S:02560 P:0027,2577533

Tax Information

  • Tax Assessed Value $1,337,800
  • Tax Year 2025
  • Taxes$20,977

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Driveway, Paved
  • Parking Spaces10

Rooms

  • Bathroom16
  • Bathrooms Total Decimal 16
  • Bedrooms23
  • Full Bath16

Basic Information

  • List Price$2,050,000
  • MLS Number73501818
  • Modification Date04/19/2026
  • Property SubType5+ Family - 5+ Units Up/Down

Location

  • Address120-122 Central Street
  • Building Number120-122
  • CountyHampden
  • StateMA
  • StreetCentral Street
  • TownSpringfield
  • Zip01105

Building

  • BasementFull
  • Building Area Units Square Feet
  • Construction Materials Brick
  • FoundationBrick/Mortar
  • Levels 5
  • Patio And Porch Features Porch
  • Rooms55
  • Stories5
  • Units16
  • Year Built1927
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.27

Interior

  • Flooring Wood, Vinyl

Exterior

  • Exterior Features Rain Gutters

Utilities

  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 11,260
  • Lot Size Square Feet 11,896
  • Lot Size Units Acres
  • Square Feet11,260

Amenities

  • AmenitiesPublic Transportation, Highway Access, House of Worship, Public School
  • Other AmenitiesBasement

Legal

  • ZoningR3

Other

  • Date Listed04/15/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Andrew Rodman of Lock and Key Realty Inc.

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