34 Harriet St, Springfield, MA 01107

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Building Details:

• Year Built: 1924

34 Harriet St is located in Springfield, MA.

Brick four-story walk-up apartment block containing 16 (8 1-br & 8 2-br units). A lot in improvements made to property over the past 5 years. i.e., replacement windows, updated bathrooms, drop ceilings, interior doors, new wiring and subpanels installed, individual hot water heaters installed, new 6,000 BTU Utica Boiler installed January 2011. Property located on the corner of Harriet & Dwight Streets and has excellent visibility & access from both streets. Public transportation located on Main Street & Chestnut Street both one block from subject. Acces to I-91 is about 1 block north of the site. Current scheduled rents are $700 for 1br units & $800 for 2br units. Battery smoke detectors in each apartment unit / hard wire in hallways). Battery units installed 201 in each unit as per property manager. Gas steam heat and gas for cooking included in rent. Tenants pay own electric, i.e., hot water & lights. Property has good rental history. However, because of foreclosure process, a lot of tenants in building not paying rent. New management has started eviction process for all not paying tenants and is in the process of curing all code violations. Property located 1 block from Baystate Medical center, which is the largest employer in Springfield with over 10,000 employees. ROI estimated to be about 23%. Great Investment!