70-74 Grenada Terrace

Springfield, MA 01108

$2,099,000
Price
46
Beds
16
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investor'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...Investor'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.
  1. Listed by Hayat Awadallah • Cameron Real Estate Group

Property Details for 70-74 Grenada Terrace

Town
Springfield
Area
MA-Springfield
Garage Spaces
0
Parking Spaces
16.00
Parking Spaces Total
16
LISTING UPDATED: 11/26/2024 03:10 AM

Property Details for 70-74 Grenada Terrace

StatusUnder Agreement
MLS #73295892
Days on Market60
Taxes$21,360 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5+ Family - 5+ Units Up/Down
Year Built1917
CountyHampden County

Building Information for 70-74 Grenada Terrace

Stories7Residences16Year Built1917Building Size-Lot Size0.14 AC / 6,098 SF

Property Information for 70-74 Grenada Terrace

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Medical Facility, Highway Access, Public School
  • Living Area: 0.0
  • SqFt with Basement: No
  • Total Units: 16
  • Waterfront: No
  • Water View: No
  • Year Built Details: Actual
  • Year Built Source: Public Records
Features
Interior Features
  • Basement Features: Full
  • Num of Baths: 16.0
  • Num of Full Baths: 16
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 16.00
  • Bathrooms Total Integer: 16
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Exterior Features: Porch
  • Patio And Porch Features: Porch
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Paved Drive, Paved Driveway
  • Open Parking: Yes
  • Parking Features: Paved Drive, Paved Driveway
  • Parking Features: Paved Driveway
Utilities
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Disclosures: Seller Never Lived At The Property. Buyer and Buyer Agent To Do Their Own Due Diligence.
Tax Information
  • Assessments: $561,300
  • Book: 0600
  • Tax Year: 2022
  • Zoning: R2
Building / Association Information
Living Characteristics
  • Beds Total: 46
  • Total Living Levels: 7
Other Building Characteristics
  • Foundation: Concrete Perimeter
Income / Expenses
  • Electricity: $2,880.00
  • Annual Expenses Source: Owner
  • GOI: $285,600.00
  • Gross Scheduled Income: $9,888.00
  • Insurance: $13,800.00
  • GRE: $106,956
  • RFS: $7,200
  • RME: $31,200
  • NOI: $178,644.00
  • Operating Expense: $106,956.00
  • WSE: $20,628.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 2
  • Lease U1: N
  • Levels U1: 0
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 1
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 1
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $23,800.00

Property History for 70-74 Grenada Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 70-74 Grenada Terrace

This home is within Springfield School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Sumner Avenue
PublicPK to 5

Forest Park Middle School
Public6 to 8

High School/Science-Tech
Public9 to 12

Putnam Vocational Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Cameron Real Estate Group, Hayat Awadallah

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.