Locust Apartments
Multifamily | 16 Units | $107,813/unit
Marketing description
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.
Investment highlights
ACCESS & CONNECTIVITY
The Property is within a short drive of Springfield Union Station at 55 Frank B. Murray Street, providing Amtrak rail service on the Hartford Line, Vermonter, Lake Shore Limited, and Northeast Regional, as well as regional and intercity bus service via carriers such as Peter Pan, Greyhound, and Trailways.
Drivers benefit from quick access to major highways, including Interstate 91 and Interstate 291, via downtown Springfield, and the Massachusetts Turnpike (I-90) via nearby interchanges in Ludlow and Chicopee, facilitating regional connectivity throughout western Massachusetts and into Connecticut.
AREA AMENITIES & DEMAND DRIVERS
Apartment housing is supported by proximity to key employment centers in and around downtown Springfield, including major regional employers in financial services, healthcare, manufacturing, and logistics such as MassMutual, Baystate Health, Big Y, Smith & Wesson, and the U.S. Postal Service, all within a commutable distance.
The Property also sits within a dense higher-education corridor, drawing renter demand from students, faculty, and staff at Springfield College, Western New England University, American International College, Springfield Technical Community College, and the broader Cooperating Colleges of Greater Springfield network, all located in Springfield and nearby communities
UTILITIES
Tenants are responsible for individually metered electricity, which they pay directly. The Landlord is responsible for providing gas powered heat & hot water, as well as city water & sewer, which they pay directly.
NEW HEATING & HOT WATER SYSTEMS
The boiler and hot water system were both upgraded in 2025, providing improved energy efficiency, reliable building operations, and reduced long-term maintenance needs. These upgrades enhance tenant comfort while offering investors a more efficient and durable mechanical infrastructure.
DURABLE BRICK CONSTRUCTION
The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal.
STRONG RENTAL DEMOGRAPHICS & DEMAND
More than 28,300 people live within 1 mile of the Property with an average household income of $60,430. Over 131,900 people reside within 3 miles of the Property with an average household income of $82,657.
QUALITY OF LIFE AMENITIES
Residents are minutes from national quick-service options like Taco Bell/Pizza Hut at 456 Sumner Avenue, as well as diverse local favorites along the Sumner Avenue corridor, including Vietnamese spots such as Pho Saigon and Vinh Chau and neighborhood cafés like Cafe Cristo that provide a range of casual eat-in and takeout options.
Daily needs are well served by nearby national convenience brands and fuel retailers such as Nouria and F.L. Roberts on Sumner Avenue, complemented by additional grocery and shopping choices along this same retail spine and in adjacent commercial nodes in Forest Park and East Forest Park.
Outdoor recreation is a major lifestyle amenity, with residents enjoying easy access to Springfield’s 700-plus acre Forest Park, which features wooded walking paths, playing fields, playgrounds, ponds, and The Zoo in Forest Park & Education Center, offering both passive and programmed activities for all ages.
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