Sold!
$459,000
7
Beds
4
Baths
3,744
Living Area
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Property Description
RARE 10.8% CAP RATE - 16% CASH ON CASH 4-UNIT INVESTMENT IN FOREST PARK. Presenting a premier high-yield asset at 127 Dickinson St, a 4-unit residential portfolio offering immediate double-digit returns. This legal 4-family features four spacious 2-bedroom/1-bath units, providing a robust unit mix for the Springfield market. The building has undergone significant capital improvements, including updated electrical (circuit breakers), plumbing, and newer hot water heaters. Interiors feature refreshed kitchens, updated flooring, and fresh paint in 2 of 4 units. While currently stabilized, an identified 17% rental upside exists by transitioning current rents to market levels. Situated on a prominent corner lot in the Forest Park neighborhood. Features include 4 dedicated off-street parking spaces, private porches for each unit, and a fenced-in yard. Separated utilities (Natural Gas & Electric). This asset delivers on every metric. Full underwriting package available upon request.
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Highlights
- Area: Forest Park
- Levels: 4
- Property Class: Residential Income
- Stories: 4
- Year Built: 1909
- Heating: Electric, Natural Gas
- Parking Spots: 2
- Property Type: 4 Family
- Total Rooms: 16
- Status: Closed
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Additional Details
- Basement: Full, Unfinished
- Foundation: Concrete Perimeter
- Roof: Shingle
- Total Number of Units: 4
- Year Built Source: Public Records
- Construction: Frame
- Lot Features: Corner Lot
- SqFt Source: Public Record
- Year Built Details: Actual
- Zoning: R3
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Amenities
- Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Public School
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Assessed Value: $421,700
- Tax Year: 2024
- Total Rent: $6,500
- Rental Fee Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water)
- Taxes: $4,956
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of StartPoint Realty.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
