Updated Three-Unit Multifamily
580 Main St, West Springfield, MA 01089
For Sale
New
$499,987
A refreshed upper-floor residence features contemporary kitchen and bath finishes, including stainless steel appliances and quartz counters.
Property Size2,773 SF
Price / SF$180.31
Days on Market4
Property Features for 580 Main St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Hampden Realty Center, LLC
(413) 507-2988
Listed By:
Laurie Palatino
(413) 419-9014
Source:
Condonrealty
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 9 at 2:21PM
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 Hampden Realty Center, LLC
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Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 2,773 square feet and dates to 1895. The vacant third-floor unit has been renovated with new flooring, bedroom carpeting, and fresh paint, along with updates to its kitchen and bathroom. Stainless steel appliances, quartz countertops, and a tile backsplash complete the kitchen improvements.
The property is located at 580 Main St in West Springfield, Massachusetts, and is zoned RC. The first- and second-floor units are described as rentals, while the updated third-floor residence is vacant.
The property is located at 580 Main St in West Springfield, Massachusetts, and is zoned RC. The first- and second-floor units are described as rentals, while the updated third-floor residence is vacant.
Key Highlights
- Three‑unit multifamily property with 2,773 square feet
- Vacant third‑floor unit has new flooring, bedroom carpeting, and fresh paint
- Kitchen features stainless steel appliances, quartz countertops, and tile backsplash
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,320
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,400
$726.4K
Cap Rate 7%
$518,857
$518.9K
Cap Rate 9%
$403,556
$403.6K
Market Conditions
NOI Build-Up for 2,773 SF
Gross rent
$54.9K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.9K $18.71/SF
− OpEx
−$15.6K −$5.61/SF
NOI
$36.3K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,400
Cap Rate 7%
$518,857
Cap Rate 9%
$403,556
Alternative Uses
Best Use
Multifamily LT 5
$518.9K
$454.0K – $605.3K
NOI $36,320 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$480.8K
$420.7K – $561.0K
NOI $33,659 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,634 @ 7.0% cap · market cap 23.93%
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
1,006
Businesses Nearby
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Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Hampden County, MA
Properties on Market for Triplexes in Hampden County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A refreshed upper-floor residence features contemporary kitchen and bath finishes, including stainless steel appliances and quartz counters.
Where is this triplex located?
The property is located at 580 Main St West Springfield, MA.
What is the asking price?
The asking price for this property is $499,987.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,773 square feet; Vacant third‑floor unit has new flooring, bedroom carpeting, and fresh paint; Kitchen features stainless steel appliances, quartz countertops, and tile backsplash
