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    128 Mill St Springfield, MA 01108

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    For Sale
    $1,195,000

    14-unit property with historic charm and modern updates.

    Lot size:
    0.46 Acres

    Property Features for 128 Mill St

    General Information

    Lot size
    0.46 Acres

    Building Details

    Year built
    1910

    Source: Century 21 AllPoints Realty Agent Madeline Ceruti

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Springfield Multifamily Investment Opportunity

    This 14-unit property is located in Springfield. The front building, constructed in 1910, comprises 6 units with original woodwork and decorative fireplaces. A large, finished attic unit offers additional rental income potential. The rear addition, built in 1975, contains 8 units, each with tenant-paid electric. The property has a 5-year-old high-efficiency boiler for owner-paid heat and hot water, along with a newer on-demand hot water system. Several units have been recently renovated, and the back building has been sub-metered. A large basement provides space for an on-site office build-out. Ample off-street parking is available. The property is conveniently located near public transportation, employers, and major highways, making it an investment opportunity in a thriving multifamily market.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5754588
    Latitude
    42.0922921

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    FAQs

    What type of property is this?
    Apartment building - 14-unit property with historic charm and modern updates.
    Where is this apartment building located?
    The property is located at 128 Mill St Springfield, MA.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: - 14-unit property in a desirable location, offering a significant investment opportunity.; - **High-efficiency boiler (5 years old) and newer on-demand hot water system, reducing operating costs.**; - Mix of historic (1910) and modern (1975) units, appealing to a wider range of tenants.
    (860) 559-0978
    Request Owner's contact information
    128 Mill St Springfield, MA 01108
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    Springfield, MA 01108
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    128 Mill St Springfield, MA 01108
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