70 Grenada Terrace Springfield, MA 01108
Forest Park NeighborhoodHighlights
- Medical Services
- Porch
- Shops
- Property is near public transit
About This Home
As of March 2025Investor's Special! Discover a unique and rare investment opportunity with these two fully occupied and low-maintenance 4-story brick buildings! Featuring 14 spacious three-bedroom and 2 two-bedroom units. This property boasts a total of 46 bedrooms and 16 bathrooms. All units have lead letters of compliance and each unit has separate electric and gas meters. Most units have been recently updated, complemented by new exterior lighting, electrical improvements, and security cameras. Newer porches and 16 parking spaces. This property generates an impressive $285,600 annually. 12 apartments on one-year leases and 4 on month-to-month leases. 5 apartments has long term tenants with under market rent. The mix of long-term tenants and flexible leases presents the ultimate chance to gradually increase rents or consider a condo conversion. Showings start Thursday, 10/3/2024—Don’t let this exceptional and fantastic opportunity slip away! For more details, refer to the attached rent roll.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $21,360
Year Built
- Built in 1917
Home Design
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 46 Bedrooms
- 16 Full Bathrooms
Parking
- 16 Car Parking Spaces
- Driveway
- Paved Parking
- Open Parking
Location
- Property is near public transit
- Property is near schools
Additional Features
- Basement Fills Entire Space Under The House
- Porch
- 6,098 Sq Ft Lot
Listing and Financial Details
- Total Actual Rent $23,800
Community Details
Overview
- 16 Units
- 7-Story Property
Amenities
- Medical Services
- Shops
Building Details
- Electric Expense $2,880
- Insurance Expense $13,800
- Water Sewer Expense $20,628
- Operating Expense $106,956
- Net Operating Income $178,644
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/07/2025 03/07/25 | Sold | $1,980,000 | -5.7% | $165 / Sq Ft |
| 11/09/2024 11/09/24 | Pending | -- | -- | -- |
| 09/27/2024 09/27/24 | For Sale | $2,099,000 | +35.4% | $175 / Sq Ft |
| 04/19/2022 04/19/22 | Sold | $1,550,000 | 0.0% | $129 / Sq Ft |
| 03/04/2022 03/04/22 | Pending | -- | -- | -- |
| 03/03/2022 03/03/22 | For Sale | $1,550,000 | +37.2% | $129 / Sq Ft |
| 04/24/2020 04/24/20 | Sold | $1,130,000 | -1.7% | $301 / Sq Ft |
| 01/06/2020 01/06/20 | Pending | -- | -- | -- |
| 12/19/2019 12/19/19 | Price Changed | $1,150,000 | -2.1% | $306 / Sq Ft |
| 11/06/2019 11/06/19 | Price Changed | $1,175,000 | -2.1% | $313 / Sq Ft |
| 09/25/2019 09/25/19 | For Sale | $1,200,000 | -- | $319 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73295892
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