$1,950,000
438 Springfield
Agawam, MA, 01001
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
Property Details
Price:
$1,950,000
MLS #:
73536156
Status:
Active
Beds:
16
Baths:
16
Type:
Multi Family
Subtype:
5+ Family – 5+ Units Up/Down
Listed Date:
Jun 15, 2026
Finished Sq Ft:
7,680
Total Sq Ft:
7,680
Lot Size:
13,440 sqft / 0.31 acres (approx)
Year Built:
1965
Units:
16
Schools
Interior
Above Grade Finished Area
7680
Bathrooms
16 Full Bathrooms
Levels
2
Exterior
Construction Materials
Brick
Open Parking Spaces
24
Open Parking YN
1
Parking Features
Paved Drive
Parking Spots
24
Parking Total
24
Roof
Shingle
Stories
2
Financial
Tax Year
2026
Taxes
$15,647
Marie Andrews is an award-winning, licensed real estate broker with licenses in Massachusetts and Florida. She has been selling real estate in the greater Boston area for over 20 years. Over the past two decades, Marie has worked for Century 21 Advanced Realty, building a reputation as a multi-million dollar producer. She has developed an extensive network of investors, lenders, and attorneys. Marie has a wide knowledge base on property management, Massachusetts real estate law, and building…
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Map
Current real estate data for Multi Family in Agawam as of Aug 07, 2026
6
Multi Family Listed
113
Avg DOM
242
Avg $ / SqFt
$1,042,675
Avg List Price
Community
- Address438 Springfield Agawam MA
- CityAgawam
- CountyHampden
- Zip Code01001
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Property Summary
- 438 Springfield Agawam MA is a Multi Family for sale in Agawam, MA, 01001. It is listed for $1,950,000 To schedule a showing of MLS#73536156 at 438 Springfield in Agawam, MA, contact your Pegasus Realty LLC agent at 781-858-3505.
Courtesy of Premier Choice Realty, Inc.. The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
438 Springfield
Agawam, MA