Offered at $1,950,000Pending

beds: 16
baths: 16
sq ft: 7,680
Built: 1965

438 Springfield

About this home

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

Listing last checked: October 17, 2026 at 11:20 AM EDTListing updated: September 24, 2026 at 10:13 AM EDT

Listed by Russell J. Sabadosa · Premier Choice Realty · MLS #73536156

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Details at a glance

Interior2 property facts

Rooms: 32
Basement: Not reported

Building5 property facts

Style: 5+ Family - 5+ Units Up/Down
Year built: 1965
Parking: 24
Foundation: Brick/Mortar
Roof: Shingle

Land & utilities5 property facts

Lot size: 0.31 acres
Water: Public
Sewer: Public Sewer
Pool: Not reported
Zoning: res

Financial2 property facts

Annual taxes: $15,647
Assessment year: 2026

Location

Estimated monthly cost

Explore costs at the $1,950,000 asking price. Adjust the assumptions to your situation.

Known monthly costs$11,164 / monthAdjust

Down payment (%)Interest rate (%)Loan termMonthly property tax ($)Monthly insurance ($)Monthly HOA ($)

Principal & interest: $9,860
Property tax: $1,304
Insurance: Not entered
HOA: Not entered

Listing annual taxes: $15,647. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.

Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.

The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.

More property insights

Automated value estimate $1,726,017

Estimated range $1,409,188–$2,042,845.

Automated estimates are not appraisals or guarantees of market value.

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Photo-based condition insights

Overall presentation: below average

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About 438 Springfield

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Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.

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Bean Group · eXp Realty

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. 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, leasing or renting 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, leasing or renting. 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, or as to the accuracy of any of the Images, set forth herein.

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