Well-Maintained Three-Unit Residential
For Sale
$430,000
827-831 Armory St, Springfield, MA 01107
Three units offer separate gas hot water heating systems, individual meters, and off-street parking plus a garage.
Property Size2,860 SF
Price / SF$150.35
Days on Market163
Property Features for 827-831 Armory St
General Information
Standard status
Active
Size
2,860 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$29,400
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,698
Building Details
Building Size
2,860 SF
Year Built
1904
Stories
3
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
(413) 568-2405
Listed By:
Ivan Karamian · License #9031974
(413) 374-7023
Source:
Churchillprop
Added: May 12
Changed: Oct 6
Last Checked: Oct 20 at 6:08PM
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 Berkshire Hathaway HomeServices Realty Professionals
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Investment Insights
Based on property information with market context.
This well-maintained three-family property is configured with separate utilities for each unit, including individual gas hot water baseboard heating boilers, gas hot water tanks, and electric and water meters. Unit 831 includes a tile kitchen and dining area, a hardwood living room, two bedrooms with closets, a full bath with tub and tile flooring, in-unit laundry, and a backyard area with a gazebo. Unit 827 offers a kitchen, living room, bedroom with closet, full bath with tub and tile flooring, and laundry hookups in the basement, along with a backyard deck. Unit 829 features a kitchen, large living room, two bedrooms, a full bath with tub, a backyard deck, laundry hookups in the basement, and use of the garage.
The property is described as having convenient access to parks, hospitals, highways, and other area amenities. BikeScore is listed as 62 (bikeable), walkScore as 73 (very walkable), and transitScore as 55 (good transit).
The property is described as having convenient access to parks, hospitals, highways, and other area amenities. BikeScore is listed as 62 (bikeable), walkScore as 73 (very walkable), and transitScore as 55 (good transit).
Key Highlights
- 1904‑built 3‑family property with separate gas hot water heating boilers and hot water tanks for each unit
- Each unit has individual electric and water meters for separate utility billing
- Off‑street parking plus a garage, including use of garage by the 2nd‑floor unit (829)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,658
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,160
$753.2K
Cap Rate 7%
$537,971
$538.0K
Cap Rate 9%
$418,422
$418.4K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$72.1K $25.20/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$68.5K $23.94/SF
− OpEx
−$30.8K −$10.77/SF
NOI
$37.7K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,160
Cap Rate 7%
$537,971
Cap Rate 9%
$418,422
Alternative Uses
Best Use
Multifamily LT 5
$604.8K
$529.2K – $705.6K
NOI $42,333 @ 7.0% cap · market cap 9.84%
Second Best
Apartment 5plus
$538.0K
$470.7K – $627.6K
NOI $37,658 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$776.6K
$679.5K – $906.1K
NOI $54,363 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 01107, MA
11,252
Population
4,534
Households
2.5
Avg Household Size
32
Median Age
14%
College-Educated
65%
High-School Grad
1.5 sq mi
ZIP Area
7,501
Density / Sq Mi
$31,969
Median Household Income
$31,543
Median Earnings
$963
Median Rent
$215,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three units offer separate gas hot water heating systems, individual meters, and off-street parking plus a garage.
Where is this triplex located?
The property is located at 827-831 Armory St Springfield, MA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 1904‑built 3‑family property with separate gas hot water heating boilers and hot water tanks for each unit; Each unit has individual electric and water meters for separate utility billing; Off‑street parking plus a garage, including use of garage by the 2nd‑floor unit (829)
