Exceptional investment opportunity in Springfield,MA! 683-687 State Street features 17 units, including 15 residential apartments and 2 commercial spaces. The unit mix consists of (9) one-bedroom, (2) two-bedroom, and (4) three-bedroom apartments, with all but two units updated within the past 24 months. The property currently has one vacant 3-bedroom unit and two vacant commercial spaces, creating immediate upside potential. One commercial space offers over 2,600 sq. ft. and is ideal for a laundromat, retail, office, or other business use. Ownership pays heat and hot water, while tenants pay their own electric (separately metered). Ten of the 15 residential units are subsidized, providing stable rental income.The property currently generates approximately $19,000 per month in gross rental income, with upside still available. Excellent cash flow and value-add opportunity. Don't miss out!
Old Hill, located between State Street and the Connecticut River, is a historic and residential Springfield neighborhood with hillside streets and a patchwork of brick and clapboard homes. The neighborhood’s character concentrates around the State Street corridor near Mason Square, where corner markets, barbershops, and longtime eateries set a steady, street-level rhythm. Victorian-era houses and early-20th-century multifamily buildings shape the blocks, with mature trees softening the slopes. Footpaths and overlooks in nearby Forest Park add a green counterpoint to the urban grid. Cultural anchors such as the Springfield Museums and Symphony Hall sit close by, with the Basketball Hall of Fame along the riverfront. The setting links daily errands with museum days and park loops without leaning on a car for every trip.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Total of 51 rooms
Full basement
Bathrooms
15 full bathrooms
2 half bathrooms
Laundry & utility
On-site laundromat nearby / community feature
Exterior features
Porch
Level lot
Home design
5+ unit multi-family building (units up/down)
4 stories
Located at the corner of State St and Hancock St
Parking
No open parking spaces listed
Construction
Brick construction
Brick/mortar foundation
Rubber roof
Built (year per public records)
Utilities
Public water
Public sewer
HOA & community
Not a senior community
Public transportation access
Laundromat in community features
Other
Building area approximately 11,250 total square feet
Lot size approximately 0.17 acres
Listing status: Active
Electricity and solar
View estimated energy costs and solar savings for this home
**Back to Market with MAJOR Updates. Buyer lost Financing** Investment Opportunity! Welcome to 683-687 State Street, a hidden gem nestled in the heart of Springfield, MA. This property has a total of 17 units including: 15 residential & 2 commercial spaces. One commercial space is 2,600+ sq ft. & presents a PERFECT opportunity to convert into a Laundromat or Business! There are a variety of unit sizes, comprising (9) one-bedroom, (2) two-bedroom, & (4) three-bedroom units. ALL 15 residential units are FULLY updated. There are 4 one-bed units & 2 commercial units vacant. One bed units are expected to be filled within 30 days. Heat & hot water is provided by ownership & tenants are responsible for electric which includes electric stoves. Roofs are 1 year old and the heating system has been replaced within the past 5 years. The current property management in place is available to continue services once purchased. Don't pass up a chance like this in an expanding city such as Springfield,MA
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
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Lot size
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Multi-Family (5+ Unit)
County
Hampden County
APN
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Parking Spaces
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Basement
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Accessible
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Last updated by owner on Jul 25, 2025.
BUS A
General Business District
Main Street and pedestrian oriented shopping districts with residential allowed.
Permitted uses
Include but are not limited to:
Agriculture
Garden center
Housing-Single unit
Housing-Multiple units
Housing-Other
Park & open space
Historical weather
Springfield, MA • 01109
Average low and high temperatures (°F)
32
17
35
18
52
31
62
41
70
50
83
61
87
67
82
61
77
55
66
44
52
34
37
22
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May
Jun
Jul
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Sun exposure
88/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.5 hrs
5.8 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 683-687 State St
There isn’t enough information to generate an accurate estimate at this time. Learn More