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Est. Mortgage: $/month

Federal 30-year interest rate: 6.66% last updated on 2026-08-27

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438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001438 Springfield Agawam MA 01001
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  • 16Bedrooms
  • 16Bathrooms
  • 7,680Square Feet
Discover an exceptional investment opportunity at 438 Springfield Street, Agawam, Massachusetts. This meticulously maintained 16-unit multifamily property, originally constructed in 1965, offers approximately 7,680 square feet of living space and is fully occupied, providing immediate, stable cash flow for investors.The building features 16 residential units, with a total of 16 bedrooms and 16 full bathrooms, spread across two stories on a 13,440-square-foot lot. The property has been well maintained and is positioned for continued long-term performance.Recent capital improvements include the installation of new heat pumps in every unit, providing tenants with efficient heating and air conditioning while enhancing the property's long-term value and reducing future capital expenditure needs. Additional income is generated through an on-site coin-operated laundry, producing approximately $150 per month.The property's July 2026 trailing 12-month (T12) Net Operating Income (NOI) is approximately $162,300. At an 8.0% capitalization rate, this supports an estimated value of approximately $2,028,750, reflecting the property's strong and improving operating performance.The list price has been increased to reflect the improved July 2026 T12 financial performance, as well as multiple offers received at the previous list price. Buyers are encouraged to review the updated financials when evaluating the property's current value.Whether you are completing a 1031 exchange, expanding an existing multifamily portfolio, or seeking a stable, income-producing asset in a desirable Western Massachusetts market, 438 Springfield Street offers an outstanding combination of current cash flow, recent capital improvements, and future upside.Highlights* 16-unit multifamily investment* Approximately 7,680 square feet* Built in 1965* Fully rented with stable occupancy* New heat pumps installed in every unit* On-site laundry generating approximately $150 per month* July 2026 T12 NOI: $162,300* Supports an estimated value of approximately $2,028,750 at an 8.0% capitalization rate* List price increased based on improved T12 financial performance and strong buyer interest* Offers due by August 27, 2026
Listed by Russell J. Sabadosa of Premier Choice Realty

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More Info

Basic Information

  • Gross Income $206,459
  • Mls StatusActive
  • Parcel Number 2482571

Location

  • Address438 Springfield
  • Building Number438
  • CountyHampden
  • StateMA
  • StreetSpringfield
  • TownAgawam
  • Zip01001

Exterior

  • RoofShingle

Property Information

  • Building Area Source Public Records
  • Living Area 7,680
  • Lot Size Square Feet 13,440
  • Lot Size Units Acres
  • Square Feet7,680

Tax Information

  • Tax Assessed Value $1,109,700
  • Tax Year 2026
  • Taxes$15,647

Rooms

  • Bathroom16
  • Bathrooms Total Decimal 16
  • Bedrooms16
  • Full Bath16

Building

  • Building Area Units Square Feet
  • Construction Materials Brick
  • FoundationBrick/Mortar
  • Levels 2
  • Rooms32
  • Stories2
  • Units16
  • Year Built1965
  • Year Built Details Actual
  • Year Built Source Public Records

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive
  • Parking Spaces24

Basic Information

  • GO-List Price$1,950,000
  • MLS Number73536156
  • Modification Date08/08/2026
  • Property SubType5+ Family - 5+ Units Up/Down

Property

  • Acreage0.31

Utilities

  • Sewer Public Sewer
  • Water Source Public

Other

  • Date Listed06/15/2026
  • Farm Land Area Units Square Feet

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. 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. MLSPIN 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.

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