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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!

More Info

Basic Information

  • Gross Income $23,925
  • Lot Features Level
  • Mls StatusActive
  • Parcel Number S:11110 P:0516

Tax Information

  • Tax Assessed Value $867,300
  • Tax Year 2023
  • Taxes$14,787

Parking

  • Parking Spaces

Rooms

  • Bathroom17
  • Bathrooms Total Decimal 16
  • Bedrooms25
  • Full Bath15
  • Half Baths2

Basic Information

  • List Price$1,675,000
  • MLS Number73538738
  • Modification Date06/23/2026
  • Property SubType5+ Family - 5+ Units Up/Down

Location

  • Address683-687 State Street
  • Building Number683-687
  • CountyHampden
  • StateMA
  • StreetState Street
  • TownSpringfield
  • Zip01109

Building

  • BasementFull
  • Building Area Units Square Feet
  • Construction Materials Brick
  • FoundationBrick/Mortar
  • Levels 4
  • Patio And Porch Features Porch
  • Rooms51
  • Stories4
  • Units17
  • Year Built1895
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.17

Exterior

  • RoofRubber

Utilities

  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Public Records
  • Living Area 11,250
  • Lot Size Square Feet 7,532
  • Lot Size Units Acres
  • Square Feet11,250

Amenities

  • AmenitiesPublic Transportation, Laundromat
  • Other AmenitiesBasement

Legal

  • ZoningB1

Other

  • Date Listed06/19/2026
  • Farm Land Area Units Square Feet

Map Location

Driving Directions

Listed by Jessica Mekal of Lock and Key Realty Inc.

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