240 Locust St - Multi-Family FOR SALE


Springfield, MA 01108- Forest Park
$1,725,000 USD
781-300-2502
240 Locust St, Springfield, MA for Sale
$1,725,000 USD
Multi-Family - FOR SALE
1/7
null | 8.1% Cap Rate

240 Locust St
Springfield, MA 01108
Forest Park


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • New Heating & Hot Water System
  • Durable Brick Construction
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,725,000 USD

PRICE/SF

$106 USD /SF

# OF UNITS

16

PRICE/UNIT

$107,813

CAP RATE

8.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Locust Apartments

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

-

APN/PARCEL ID

SPRI-007860-000000-000050

ASK ABOUT THIS PROPERTY

Michael BradleyHorvath & TremblayMore Info
781-300-2502

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Michael BradleyHorvath & TremblayMore Info
781-300-2502

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.