Updated Three-Unit
335 Oakland St, Springfield, MA 01108
For Sale
$485,000
Three two-bedroom units with separate utilities, updated interiors, and two vacant apartments.
Property Size3,000 SF
Days on Market62
Property Features for 335 Oakland St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Property Investors & Advisors, LLC
Listed By:
Olotu J. Wariebi · License MA #9578131
(508) 335-5076
Source:
Elliman
Added: Sep 10
Changed: Nov 8
Last Checked: Nov 8 at 6:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Property Investors & Advisors, LLC
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Investment Insights
Based on property information with market context.
This triplex contains 2900+ square feet of living space arranged as three two-bedroom units. Two apartments are vacant, while improvements include updated kitchens and bathrooms, newer flooring, replacement windows, aluminum siding, and a rubber roof. Each unit has its own gas heat, electric panel, and hot water tank, supporting separate utility management. Gas furnaces and water heaters are in place throughout the property.
The parcel at 335 Oakland St includes a broad paved driveway and a spacious backyard. Built in 1957, the property is positioned in a walkable Springfield setting with a Walk Score of 81, a Transit Score of 58, and a Bike Score of 39. The combination of three similarly configured units and two available apartments provides flexibility for an owner-occupant or multifamily investor.
The parcel at 335 Oakland St includes a broad paved driveway and a spacious backyard. Built in 1957, the property is positioned in a walkable Springfield setting with a Walk Score of 81, a Transit Score of 58, and a Bike Score of 39. The combination of three similarly configured units and two available apartments provides flexibility for an owner-occupant or multifamily investor.
Key Highlights
- Three‑unit property with 2900+ square feet of living space
- Three 2‑bedroom units with two apartments currently vacant
- Separate gas heat, electric panels, and hot water tanks for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,406
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,120
$888.1K
Cap Rate 7%
$634,371
$634.4K
Cap Rate 9%
$493,400
$493.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$66.6K $22.20/SF
− Vacancy
−$3.2K −$1.05/SF
EGI
$63.4K $21.15/SF
− OpEx
−$19.0K −$6.34/SF
NOI
$44.4K $14.80/SF
Area
Springfield, MA
Vacancy
4.75%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,120
Cap Rate 7%
$634,371
Cap Rate 9%
$493,400
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.1K
NOI $44,406 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$564.3K
$493.8K – $658.4K
NOI $39,501 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
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Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Springfield, MA
Properties on Market for Triplexes in Springfield
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom units with separate utilities, updated interiors, and two vacant apartments.
Where is this triplex located?
The property is located at 335 Oakland St Springfield, MA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three‑unit property with 2900+ square feet of living space; Three 2‑bedroom units with two apartments currently vacant; Separate gas heat, electric panels, and hot water tanks for each unit
