120-122 Central St
$2,000,000
23
Beds
16
Baths
11,260
Sqft
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$2,000,000
23
Beds
16
Baths
11,260
Living Area
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Property Description
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.
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Highlights
- Levels: 5
- Property Class: Residential Income
- Stories: 5
- Year Built: 1927
- Parking Spots: 10
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 55
- Status: Active
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Additional Details
- Basement: Full
- Exterior Features: Rain Gutters
- Foundation: Brick/Mortar
- SqFt Source: Public Record
- Year Built Details: Actual
- Zoning: R3
- Construction: Brick
- Flooring: Wood, Vinyl
- Road Frontage Type: Public
- Total Number of Units: 16
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Highway Access, House of Worship, Public School
- Parking Features: Paved Drive, Off Street, Driveway, Paved
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $1,337,800
- Taxes: $20,977
- Tax Year: 2025
- Total Rent: $5,720
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Listing information provided courtesy of Lock and Key Realty Inc..
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