Two-Story Multi-Family
438 Springfield Agawam, MA 01001
New
438 Springfield, Agawam, MA, 01001
$1,875,000
For Sale
$1,875,000
Two-story multifamily property with 16 bedrooms and 16 full bathrooms, fully rented and updated with heat pumps in all units.
Property Size7,680 SF
Lot Size0.31 Acres
Price / SF$244.14
Days on Market7
Property Features for 438 Springfield
General Information
- Standard status
- Active
- Size
- 7,680 SF
- Lot size
- 0.31 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing agency
Premier Choice Realty
(413) 537-0973
Listed by
Russell J. Sabadosa · License #452501212
Source
Classifiedrealtygroup
Added: Jul 15 Updated: Jul 20 at 5:17PM Checked: Jul 21 at 3:52AM
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 Premier Choice Realty
Investment Insights
Based on property information with market context.
This two-story multifamily building was constructed in 1965 and offers a total of 16 bedrooms and 16 full bathrooms. The property is described as meticulously maintained and available for immediate occupancy. The building is fully rented, with new heat pumps installed in all units.
The property sits on a 13,440 square foot lot. In addition to rent roll status and unit updates, the listing notes laundry income of approximately $150 per month.
Overall, the configuration is purpose-built for resident capacity and support, with an even bedroom-to-bathroom count and facility coverage through multiple full bathrooms throughout the building.
The property sits on a 13,440 square foot lot. In addition to rent roll status and unit updates, the listing notes laundry income of approximately $150 per month.
Overall, the configuration is purpose-built for resident capacity and support, with an even bedroom-to-bathroom count and facility coverage through multiple full bathrooms throughout the building.
Key Highlights
- Two‑story multifamily built in 1965 with 7,680 SF of living space on a 13,440 SF lot
- 16 bedrooms and 16 full bathrooms across the property
- Fully rented for immediate occupancy
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $178.8k | $23.28 |
| − Vacancy | −$9.3k | −$1.21 |
| EGI | $169.5k | $22.07 |
| − OpEx | −$76.3k | −$9.93 |
| NOI | $93.2k | $12.14 |
7,680 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,221 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.73M
$4.14M – $5.52M
NOI $331,334 @ 7.0% cap · market cap 17.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tony’s
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-story multifamily property with 16 bedrooms and 16 full bathrooms, fully rented and updated with heat pumps in all units.
Where is this apartment building located?
The property is located at 438 Springfield Agawam, MA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Two‑story multifamily built in 1965 with 7,680 SF of living space on a 13,440 SF lot; 16 bedrooms and 16 full bathrooms across the property; Fully rented for immediate occupancy
