RARE 10.8% CAP RATE - 16% CASH ON CASH 4-UNIT INVESTMENT IN FOREST PARK. Presenting a premier high-yield asset at 127 Dickinson St, a 4-unit residential portfolio offering immediate double-digit returns. This legal 4-family features four spacious 2-bedroom/1-bath units, providing a robust unit mix for the Springfield market. The building has undergone significant capital improvements, including updated electrical (circuit breakers), plumbing, and newer hot water heaters. Interiors feature refreshed kitchens, updated flooring, and fresh paint in 2 of 4 units. While currently stabilized, an identified 17% rental upside exists by transitioning current rents to market levels. Situated on a prominent corner lot in the Forest Park neighborhood. Features include 4 dedicated off-street parking spaces, private porches for each unit, and a fenced-in yard. Separated utilities (Natural Gas & Electric). This asset delivers on every metric. Full underwriting package available upon request.
Multi-familyProperty Type
1909Year Built
7,291 sq ftLot Size
$142Est. Price/Sq.Ft.
2 spacesParking
Listed by Jacob Wint• William Pitt Sotheby's International Realty
Opportunity to buy legal fully occupied 4 unit apartment , with updated electric and plumbing, first floor units have electric heater and second floor units are gas heating. Good size fenced in back yard .
MLS PIN #71144725
Nov 14, 2011
Sold
$78,000
$21/sq ft
Sep 30, 2010
Listed
$95,000
$25/sq ft
Investors take notice!! Four unit multi-family in Forest Park area. Featuring 4 rooms,2 bedrooms per unit, replacement windows and two newer boilers.
Public Records
Jun 27, 2006
Sold
$249,000
$67/sq ft
Public Records
Jan 4, 2006
Sold
$167,000
$45/sq ft
MLS PIN #70254347
Jan 6, 2006
Sold
$165,000
$44/sq ft
Sep 7, 2005
Listed
$140,000
$37/sq ft
Public Records
Sep 1, 2005
Sold
$81,000
$22/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$4,958 (+16.1%)
$22,900 + $267,900
$290,800
2022
$4,272 (+4.6%)
$20,800 + $206,200
$227,000
2021
$4,086 (+8.7%)
$18,900 + $197,300
$216,200
2020
$3,760 (−0.7%)
$18,900 + $173,600
$192,500
2019
$3,788 (+5.9%)
$18,900 + $173,600
$192,500
2018
$3,578 (+9.2%)
$18,900 + $162,900
$181,800
2017
$3,277 (+6.4%)
$15,200 + $151,500
$166,700
2016
$3,079 (+3.3%)
$15,200 + $141,400
$156,600
2015
$2,980 (+13.0%)
$15,200 + $136,300
$151,500
2014
$2,637 (+8.5%)
$19,900 + $113,900
$133,800
2013
$2,430 (−0.6%)
$19,900 + $103,400
$123,300
2012
$2,445 (−8.6%)
$19,900 + $103,400
$123,300
2011
$2,676
$24,500 + $112,800
$137,300
Tax history for 127 Dickinson St
Year
Property tax
Land + Additions
Assessment*
2023
$4,958 (+16.1%)
$22,900 + $267,900
$290,800
2022
$4,272 (+4.6%)
$20,800 + $206,200
$227,000
2021
$4,086 (+8.7%)
$18,900 + $197,300
$216,200
2020
$3,760 (−0.7%)
$18,900 + $173,600
$192,500
2019
$3,788 (+5.9%)
$18,900 + $173,600
$192,500
2018
$3,578 (+9.2%)
$18,900 + $162,900
$181,800
2017
$3,277 (+6.4%)
$15,200 + $151,500
$166,700
2016
$3,079 (+3.3%)
$15,200 + $141,400
$156,600
2015
$2,980 (+13.0%)
$15,200 + $136,300
$151,500
2014
$2,637 (+8.5%)
$19,900 + $113,900
$133,800
2013
$2,430 (−0.6%)
$19,900 + $103,400
$123,300
2012
$2,445 (−8.6%)
$19,900 + $103,400
$123,300
2011
$2,676
$24,500 + $112,800
$137,300
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
7
Baths
—
Stories
2
Lot width
—
Lot depth
—
Lot size
7,405 Sq. Ft.
Year renovated
—
Sq. Ft.
7,264
Year built
1909
Style
Multi-Family (5+ Unit)
County
Hampden County
APN
2581358
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 20, 2023.
RES C
High Density Residential District
Multi-family residential
Permitted uses
Include but are not limited to:
Agriculture
Garden center
Housing-Senior
Housing-Other
Property details
Parking
Parking Information
Open Parking Spaces: 2
Parking Spaces: 2
Interior
Bathroom Information
# of Bathrooms (Full): 4
Basement Information
Basement: Full, Unfinished
Interior Features
# of Rooms (Total): 16
Unit #1 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Unit #2 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Unit #3 Information
# of Levels: 1
# of Floors: 2
Lease: Y
Unit #4 Information
# of Levels: 1
# of Floors: 2
Lease: N
Exterior
Building Information
Building Area (Total): 3,744
Foundation Details: Concrete Perimeter
Construction Materials: Frame
Stories (Total): 4
Year Built Source: Public Records
Year Built Details: Actual
Color: White
Exterior Features
Roof: Shingle
Property Information
PropertySubType: 4 Family
Above Grade Finished Area: 3744
Levels: 4
Lot Information
Lot Size (Acres): 0.16
Lot Features: Corner Lot
Financial
Tax Information
Tax Annual Amount: $4,956
Tax Year: 2024
Utilities
Utility Information
Sewer: Public Sewer
Water Source: Public
Heating & Cooling
Has Heating
Heating: Electric, Natural Gas
Heating Units: 4
Cooling Units: 0
Location
Location Information
Directions: Dickinson Street
UnparsedAddress: 127 Dickinson St, Springfield MA 01108
Community Information
Senior CommunityYN: No
Community Features: Public Transportation, Shopping, Park, Medical Facility, Highway Access, Public School
Public facts
Beds: 7
Baths: —
Sq. Ft.: 7,264
Stories: 2.0
Lot Size: 7,405 square feet
Style: Multi-Family (5+ Unit)
Year Built: 1909
Year Renovated: —
County: Hampden County
APN: 2581358
Home facts updated by county records on Jul 19, 2023
Other
Miscellaneous Information
Heat Zones: 4
Listing Information
StandardStatus: Closed
Around this home
Schools
Sumner Avenue School
Public PreK-5 • Assigned • 0.7mi
3/10
Forest Park Middle School
Public 6-8 • Assigned • 0.3mi
3/10
Springfield High School
Public 9-12 • Assigned • 0.4mi
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 98° expected this year, 16 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Springfield, MA • 01108
Average low and high temperatures (°F)
32
18
35
19
52
32
62
41
70
51
82
61
87
67
82
59
76
56
66
44
52
35
37
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.1 hours in
June and 4.3 hours in December, placing it below the
U.S. average for solar exposure.