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Key Facts

23Beds

16Baths

11,260Sq Ft

1927Year Built

0.27Lot (acres)

5Stories

$2,000,000

$2,050,000 · Price reduced

Active63 days on marketListed April 15, 2026

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Description

120–122 Central Street presents a rare opportunity to acquire a 16-unit asset in a prime Springfield location, just minutes from the Naismith Memorial Basketball Hall of Fame and MGM Springfield. Perfect for a 1031 exchange this property features a strong unit mix of (7) two-bedroom apartments and (9) one-bedroom apartments, catering to a wide tenant base.With gross rents exceeding $22,000 per month, this building offers immediate cash flow and solid investment performance. All 16 units have lead certificates, providing added compliance and peace of mind for ownership.Positioned in a high-demand rental area with close proximity to major attractions, employment centers, and amenities, with a large off street parking lot this is a turnkey opportunity for investors looking to scale their portfolio with a stabilized, income-producing asset.

Property Information

Property Type

Residential Income

Sub-Type

Multi Family

Year Built

1927

Stories

Living Area

11,260 sq ft

Lot Size

0.27 acres

Parking Spaces

Zoning

Days on Market

MLS® Listing#

73501818

Property Features

Exterior

Rain Gutters

Flooring

WoodVinyl

Basement

Full

Parking

PavedOff StreetDriveway

Patio

Porch

Construction

Brick

Foundation

Brick/Mortar

Sewer

Public Sewer

Water Source

Public

Financial Details

Annual Taxes

$20,977

Tax year 2025

Assessed Value

$1,337,800

Parcel Number

S:02560 P:0027,2577533

Directions

Maple street to central Street

Affordability Calculator

Home Price

Down Payment

$400,000

Interest Rate (%)

Loan Term

Estimated monthly payment

$10,645/mo

Principal $1,600,000 · Est. interest $2,232,142 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in Springfield, MA

$325,333
Median Listing Price: 35
Median Days on Market: 1,620
Median Sq Ft: $207
Median Price / Sq Ft: 240
Active Listings

This home’s price is 515% above the area median.
Its price per sq ft is 14% below the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in Springfield, MA.

Location

Map is currently unavailable for this location.

Points of Interest in Springfield, MA

Commute Calculator

Nearby Homes

$2,000,000

23 bed · 16 bath

120-122 Central St, Springfield, MA

0.0 mi away

$17

128-148 Maple St, Springfield, MA

0.1 mi away

$1,150,000

12 bed · 7 bath

270 Maple St, Springfield, MA

0.2 mi away

$334,900

9 bed · 3 bath

24 Adams St, Springfield, MA

0.2 mi away

$425,000

4 bed · 2 bath

48 Madison Ave, Springfield, MA

0.2 mi away

$2,090,000

17 bed · 17 bath

91 E Park St, Springfield, MA

0.2 mi away

Similar Homes Nearby

$1,650,000
25 beds · 17 baths · 11,250 sq ft
683-687 State St, Springfield, MA 01109
Multi FamilyActive

Similar Home Values

Comparable nearby listings and their asking prices.

Address	Price	Beds	Baths	Sq Ft
683-687 State St, Springfield, MA	$1,650,000	25	17	11,250

Moving Cost Estimate

EXIT Agents in Springfield

Estefania Jimenez
Sales Representative
EXIT Realty EverydayBristol, CT
(631) 800-6651
estefaniajimenez2013@gmail.com
Melissa Shea
Franchisee
EXIT Realty EverydayBristol, CT
(631) 456-2244
melissa@everydayrs.com
Kevin Cormier
Broker of Record
EXIT New Options Real EstateLeominster, MA
(978) 660-1097
kevin@cormier.com
Vincent Russo, Jr.
Sales Representative
EXIT New Options Real EstateLeominster, MA
(413) 200-0790
vinnie@exitnewoptions.com
Vivian Lillie
Sales Representative
EXIT New Options Real EstateLeominster, MA
(978) 868-0565
vivian@exitnewoptions.com
Diane Vella
Sales Representative
EXIT New Options Real EstateLeominster, MA
(978) 870-7910
diane@exitnewoptions.com

Listing Courtesy: Lock and Key Realty Inc. - 4132828080

Presented by: Andrew Rodman

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