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INVESTMENT SNAPSHOT
About this property
236-240 Locust St 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. The Property 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. Tenants are responsible for electricity, while the Landlord is responsible for gas powered heat & hot water and city water & sewer. Recent capital improvements include an upgraded boiler and hot water system from 2025, adding to the durability and long term value of the asset. The opportunity exists to acquire a well maintained asset with recently upgraded utilities in the densely populated Springfield market.
Property details
| Units | 16 |
| Living area | 12,989 sqft |
| Lot size | 10,018 sqft |
| Year built | 1924 |
| Price / sqft | $133 |
| County | Hampden |
| MLS # | 73495011 |
Listing status
| Days on market | 4 days |
| Listed on | April 1, 2026 |
Taxes & financials
| Annual property tax | $21,078 |
| Tax year | 2026 |
| Assessed value | $1,344,700 |
| Zoning | R3 |
| Gross income (actual) | $265,380/yr |
| Net operating income (actual) | $139,785/yr |
| Total actual rent | $22,115/mo |
| Electric expense | $11,676/yr |
| Insurance expense | $14,439/yr |
Building & lot
| Stories | 5 |
| Total rooms | 56 |
| Lot size | 0.23 acres |
| Garage spaces | 0 |
| Parking spaces | 0 |
| Parking | On Street |
| Foundation | Concrete Perimeter |
| Roof | Rubber |
Utilities & systems
| Heating | Natural Gas |
| Sewer | Public Sewer |
| Water | Public |
Location
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Listing courtesy of Horvath & Tremblay — Michael Bradley. 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 236-240 Locust St, Springfield MA 01108 have?
It is a 16-unit multi-family property with 12,989 sqft of living area, built in 1924.
How long has 236-240 Locust St, Springfield MA 01108 been on the market?
236-240 Locust St, Springfield MA 01108 has been listed for 4 days (since April 1, 2026).
What is the estimated cap rate on this 16-family in Springfield?
Based on area median rents, the estimated cap rate is about 10.5%, 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 $1,725,000 across 16 units, that works out to roughly $107,813 per unit.
What are the property taxes on 236-240 Locust St, Springfield MA 01108?
Annual property taxes are $21,078 (2026), on an assessed value of $1,344,700.
What is the price per square foot?
At $1,725,000 for 12,989 sqft, that's about $133 per square foot.
Where is this property located?
236-240 Locust St, Springfield MA 01108 is in Springfield, Hampden County, MA 01108.
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