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Locust Apartments 236-240 Locust 16 Unit Apartment Building $1,725,000 ($107,813/Unit) 8.10% Cap Rate Springfield, MA 01108



Investment Highlights
- Access & Connectivity
- New Heating & Hot Water System
- Strong Rental Demographics & Demand
- Area Amenities & Demand Drivers
- Durable Brick Construction
- Quality of Life Amenities
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 236-240 Locust Street in Springfield, MA (the “Property”). The four-story building contains sixteen (16) total units comprised of eight (8) 2-Bedroom/1-Bathroom units and eight (8) 1-Bedroom/1-Bathroom units with 12,989 square feet of gross living area in 16,207 square feet of gross area. The Property is situated upon a 0.23-acre parcel and features on-street parking. 236–240 Locust Street is well-positioned in the urban core of Springfield, offering strong access to the city’s downtown business district, neighborhood retail corridors, and surrounding residential neighborhoods. The property benefits from convenient connectivity to major regional routes including Interstate 91, Interstate 291, and U.S. Route 20, as well as proximity to Springfield Union Station, providing efficient rail and bus transit access throughout the Pioneer Valley and connections to major regional destinations including Boston and New Haven.
Property Facts
| Price | $1,725,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $107,813 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.10% | Building Size | 10,200 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment | ||
| Zoning | R3 - Residential | ||
| Price | $1,725,000 |
| Price Per Unit | $107,813 |
| Sale Type | Investment |
| Cap Rate | 8.10% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 10,200 SF |
| No. Stories | 4 |
| Year Built | 1924 |
| Zoning | R3 - Residential |
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Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | SPRI-007860-000000-000050 | Improvements Assessment | $1,163,500 |
| Land Assessment | $240,000 | Total Assessment | $1,403,500 |
Property Taxes
Parcel Number
SPRI-007860-000000-000050
Land Assessment
$240,000
Improvements Assessment
$1,163,500
Total Assessment
$1,403,500
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Locust Apartments | 236-240 Locust
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