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    41-49 Belmont Ave Springfield, MA 01108

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    For Sale
    $2,199,000

    22-unit multifamily property in historic Forest Park, Springfield.

    Lot size:
    0.27 Acres

    Property Features for 41-49 Belmont Ave

    General Information

    Lot size
    0.27 Acres

    Building Details

    Year built
    1925

    Source: Stuart St James, Inc. Agent David Thompson

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

    Overview

    22-Unit Multifamily Investment Opportunity

    This 22-unit multifamily property is located in the historic Forest Park area. The four-story brick building offers 22,316 square feet of living space. It features 20 residential units, including eight 2-bedroom/1-bath units, eight 1-bedroom/1-bath units, and four studio units, as well as a separate two-family house with two 2-bedroom/1-bath units. The property has undergone renovations to most units. Updated hot water systems and a 95% HTP condensing hot water heater are in place. The property includes a parking lot and an on-site laundry facility. The property is located near shops, restaurants, parks, and downtown Springfield.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office 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
    -72.5756228
    Latitude
    42.0899455

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    FAQs

    What type of property is this?
    Apartment building - 22-unit multifamily property in historic Forest Park, Springfield.
    Where is this apartment building located?
    The property is located at 41-49 Belmont Ave Springfield, MA.
    What is the asking price?
    The asking price for this property is $2,199,000.
    What are key features of this property?
    This property features: - High-occupancy 22-unit building grossing over $258,000 annually.; - Renovated units with potential for further rent increases.; - Located in the historic Forest Park area.
    (857) 334-6828
    Request Owner's contact information
    41-49 Belmont Ave 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
    41-49 Belmont Ave Springfield, MA 01108
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