Four-Family Residential Income
71 Hill Street West Springfield, MA 01108
71 Hill Street, West Springfield, MA, 01108
$492,900
For Sale
$492,900
Fully occupied 4-family with in-unit washers and dryers and private basement storage for each apartment.
Property Size3,286 SF
Price / SF$150
Days on Market22
Property Features for 71 Hill Street
General Information
- Standard status
- Active
- Size
- 3,286 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
VP Management
Listed by
David Vilkhovoy
(413) 549-5555
Source
Fivecollegerealtors
Added: Jun 30 Updated: Jul 20 at 11:43PM Checked: Jul 21 at 6:31AM
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 VP Management
Investment Insights
Based on property information with market context.
This fully occupied four-family is well maintained and designed for practical, everyday living. Each unit includes spacious kitchens and in-unit washers and dryers, with private basement storage dedicated to every apartment. The building also offers front and rear porches on both levels, and the property features a large fenced backyard for outdoor use.
Tenants pay their own utilities and are on month-to-month agreements, which can provide flexibility while maintaining steady occupancy. The property is located at 71 Hill Street in West Springfield, Massachusetts.
For buyers seeking a turnkey residential income asset, this configuration combines in-unit laundry, dedicated storage, and outdoor space with current operational continuity.
Tenants pay their own utilities and are on month-to-month agreements, which can provide flexibility while maintaining steady occupancy. The property is located at 71 Hill Street in West Springfield, Massachusetts.
For buyers seeking a turnkey residential income asset, this configuration combines in-unit laundry, dedicated storage, and outdoor space with current operational continuity.
Key Highlights
- Fully occupied 4‑family with stable tenancy and consistent rental income
- All tenants pay their own utilities and are on month‑to‑month agreements
- Each unit includes in‑unit washers and dryers
Local Financial Insights For Multifamily LT 5
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 | $65.1k | $19.80 |
| − Vacancy | −$3.6k | −$1.09 |
| EGI | $61.5k | $18.71 |
| − OpEx | −$18.4k | −$5.61 |
| NOI | $43.0k | $13.10 |
3,286 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$614.8K
$538.0K – $717.3K
NOI $43,039 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$569.8K
$498.6K – $664.8K
NOI $39,886 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,766 @ 7.0% cap · market cap 28.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully occupied 4-family with in-unit washers and dryers and private basement storage for each apartment.
Where is this quadplex located?
The property is located at 71 Hill Street West Springfield, MA.
What is the asking price?
The asking price for this property is $492,900.
What are key features of this property?
This property features: Fully occupied 4‑family with stable tenancy and consistent rental income; All tenants pay their own utilities and are on month‑to‑month agreements; Each unit includes in‑unit washers and dryers
