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INVESTMENT SNAPSHOT
About this property
120–122 Central Street presents a rare opportunity to acquire a 16-unit asset in a prime Springfield location, just minutes from the Naismith Memorial Basketball Hall of Fame and MGM Springfield. Perfect for a 1031 exchange this property features a strong unit mix of (7) two-bedroom apartments and (9) one-bedroom apartments, catering to a wide tenant base.With gross rents exceeding $22,000 per month, this building offers immediate cash flow and solid investment performance. All 16 units have lead certificates, providing added compliance and peace of mind for ownership.Positioned in a high-demand rental area with close proximity to major attractions, employment centers, and amenities, with a large off street parking lot this is a turnkey opportunity for investors looking to scale their portfolio with a stabilized, income-producing asset.
Property details
| Units | 16 |
| Living area | 11,260 sqft |
| Lot size | 11,896 sqft |
| Year built | 1927 |
| Price / sqft | $182 |
| County | Hampden |
| MLS # | 73501818 |
Listing status
| Days on market | 4 days |
| Listed on | April 15, 2026 |
Taxes & financials
| Annual property tax | $20,977 |
| Tax year | 2025 |
| Assessed value | $1,337,800 |
| Zoning | R3 |
| Gross income (actual) | $84,540/yr |
| Net operating income (actual) | $84,540/yr |
| Total actual rent | $5,720/mo |
Building & lot
| Stories | 5 |
| Total rooms | 55 |
| Lot size | 0.27 acres |
| Garage spaces | 0 |
| Parking spaces | 10 |
| Parking | Paved Drive, Off Street, Driveway, Paved |
| Basement | Full |
| Foundation | Brick/Mortar |
| Construction | Brick |
| Flooring | Wood, Vinyl |
Utilities & systems
| Sewer | Public Sewer |
| Water | Public |
Location
More about investing in Springfield →
Listing courtesy of Lock and Key Realty Inc. — Andrew Rodman. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 120-122 Central St, Springfield MA 01105 have?
It is a 16-unit multi-family property with 11,260 sqft of living area, built in 1927.
How long has 120-122 Central St, Springfield MA 01105 been on the market?
120-122 Central St, Springfield MA 01105 has been listed for 4 days (since April 15, 2026).
What is the estimated cap rate on this 16-family in Springfield?
Based on area median rents, the estimated cap rate is about 8.8%, with a Signal Score of 99/100. These are directional estimates, not an appraisal.
What is the price per unit?
At a list price of $2,050,000 across 16 units, that works out to roughly $128,125 per unit.
What are the property taxes on 120-122 Central St, Springfield MA 01105?
Annual property taxes are $20,977 (2025), on an assessed value of $1,337,800.
What is the price per square foot?
At $2,050,000 for 11,260 sqft, that's about $182 per square foot.
Is there parking?
10 total parking spaces (paved drive, off street, driveway, paved).
Where is this property located?
120-122 Central St, Springfield MA 01105 is in Springfield, Hampden County, MA 01105.
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