Rare investment opportunity in the heart of Springfield! This 14 unit property offers a blend of historic character & modern functionality. The front building, built 1910, features 6 units with timeless charm including original woodwork & decorative fireplaces - plus a large, finished attic unit offering additional rental income potential. Connected at the rear, the 1975-built addition has 8 units, each with tenant paid electric. The property has recently received many updates including a 5 year old high efficiency boiler (owner paid heat/hot water), along with a newer on-demand hot water system. Several units have been recently renovated & the back building has been sub-metered to enhance operational efficiency. There is a large basement with space for on-site office build-out as well. With ample off-street parking and a convenient location near public transportation, employers, and major highways, this is an ideal investment opportunity in a thriving multifamily market!
Multi-familyProperty Type
1910Year Built
0.46 acresLot Size
$104Price/Sq.Ft.
14 spacesParking
Listed by Madeline Ceruti• Century 21 AllPoints Realty
15 unit super money maker. Current owner has repaired,refurbished & painted thruout. Cap rate 14.63%, Cash-on cash 32.33%!, DCR 2.18 ( based on 20% down, 7.5%, 30 yr term). Currently 100% occupancy rate. 12 units are studio apts, 3 units are 1 bedroom units. APOD & rent roll available via e-mail or fax. Priced well below current assessed value. Seller wants quick sale.
Public Records
Mar 12, 2004
Sold
$270,000
$25/sq ft
Public Records
Mar 1, 2001
Sold
$50,000
$5/sq ft
Public Records
Jun 29, 1984
Sold
$165,000
$16/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$11,188 (+1.1%)
$127,400 + $528,800
$656,200
2022
$11,070 (−2.9%)
$116,200 + $472,000
$588,200
2021
$11,399 (−8.7%)
$116,200 + $486,900
$603,100
2020
$12,489 (+11.9%)
$116,200 + $523,300
$639,500
2019
$11,164 (+21.0%)
$91,000 + $476,300
$567,300
2018
$9,230 (+11.9%)
$91,000 + $378,000
$469,000
2017
$8,245 (+8.3%)
$91,000 + $328,400
$419,400
2016
$7,616 (+4.3%)
$91,000 + $296,400
$387,400
2015
$7,305 (+14.2%)
$91,000 + $280,400
$371,400
2014
$6,396 (+4.3%)
$91,000 + $233,500
$324,500
2013
$6,130 (−0.6%)
$91,000 + $220,000
$311,000
2012
$6,167 (−1.4%)
$91,000 + $220,000
$311,000
2011
$6,252
$105,000 + $215,800
$320,800
Tax history for 128 Mill St
Year
Property tax
Land + Additions
Assessment*
2023
$11,188 (+1.1%)
$127,400 + $528,800
$656,200
2022
$11,070 (−2.9%)
$116,200 + $472,000
$588,200
2021
$11,399 (−8.7%)
$116,200 + $486,900
$603,100
2020
$12,489 (+11.9%)
$116,200 + $523,300
$639,500
2019
$11,164 (+21.0%)
$91,000 + $476,300
$567,300
2018
$9,230 (+11.9%)
$91,000 + $378,000
$469,000
2017
$8,245 (+8.3%)
$91,000 + $328,400
$419,400
2016
$7,616 (+4.3%)
$91,000 + $296,400
$387,400
2015
$7,305 (+14.2%)
$91,000 + $280,400
$371,400
2014
$6,396 (+4.3%)
$91,000 + $233,500
$324,500
2013
$6,130 (−0.6%)
$91,000 + $220,000
$311,000
2012
$6,167 (−1.4%)
$91,000 + $220,000
$311,000
2011
$6,252
$105,000 + $215,800
$320,800
*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
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.46 Acres
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (5+ Unit)
County
Hampden County
APN
2596020
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
Has Open Parking
Open Parking Spaces: 14
Parking Spaces: 14
Parking Features: Paved Drive, Off Street, Paved
Interior
Bathroom Information
# of Bathrooms (Full): 14
Basement Information
Basement: Full, Walk-Out Access
Interior Features
# of Rooms (Total): 45
Window Features: Insulated Windows
Unit #1 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Unit #2 Information
# of Levels: 1
# of Floors: 1
Lease: Y
Exterior
Building Information
Building Area (Total): 10,604
Foundation Details: Block, Brick/Mortar, Slab
Construction Materials: Frame
Stories (Total): 3
Year Built Source: Public Records
Year Built Details: Actual
Exterior Features
Roof: Shingle
Property Information
PropertySubType: 5-9 Family
Above Grade Finished Area: 10604
Levels: 3
Green Energy Efficient : Thermostat
Lot Information
Lot Size (Acres): 0.46
Financial
Tax Information
Tax Annual Amount: $15,128
Tax Year: 2025
Utilities
Utility Information
Sewer: Public Sewer
Water Source: Public
Electric: Common, Individually Metered
Location
Location Information
Directions: GPS friendly
UnparsedAddress: 128 Mill St, Springfield MA 01108
Community Information
Senior CommunityYN: No
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Public School, University
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: 0.46 acres
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Hampden County
APN: 2596020
Home facts updated by county records on Jul 19, 2023
Other
Listing Information
StandardStatus: Closed
Around this home
Schools
Springfield Public Day Elementary School
Public 1-5 • Assigned • 2.0mi
2/10
South End Middle School
Public 6-8 • Assigned • 0.5mi
3/10
Springfield High School
Public 9-12 • Assigned • 0.9mi
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
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.