Updated Three-Unit
For Sale
$599,900
115 Beech, Fitchburg, MA 01420
Residential Income, Fitchburg, MA
Property Size2,808 SF
Lot Size0.16 Acres
Price / SF$213.64
Days on Market148
Property Features for 115 Beech
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 4, Bedroom 5
Parking
8
Directions
GPS
Standard status
Active
APN
1504368
Size
2,808 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6383
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Boston Northwest
(781) 862-2800
Listed By:
Christina Hill
(978) 369-5775
Added: Apr 16
Changed: Sep 3
Last Checked: Sep 10 at 8:06AM
MLS# 73503338
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,808-square-foot triplex contains three residential apartments: two with three bedrooms and one with two bedrooms. The property has been updated with contemporary finishes, and each unit includes washer and dryer connections. Unit 1 includes central heating and air conditioning installed in 2025 and may be delivered vacant. Unit 3 has a lead paint certificate.
Built in 1900, the residence occupies 0.157 acres and is located at 115 Beech in Fitchburg, Massachusetts. The property is identified as RC zoning and is positioned near schools, public transportation, shopping, and other local amenities. Its three-unit configuration supports a range of residential income and owner-occupancy arrangements, subject to applicable requirements.
Built in 1900, the residence occupies 0.157 acres and is located at 115 Beech in Fitchburg, Massachusetts. The property is identified as RC zoning and is positioned near schools, public transportation, shopping, and other local amenities. Its three-unit configuration supports a range of residential income and owner-occupancy arrangements, subject to applicable requirements.
Key Highlights
- Three‑unit triplex with 2808 square feet of building area
- Unit mix includes two 3‑bedroom apartments and one 2‑bedroom apartment
- Each unit has washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,958
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,160
$759.2K
Cap Rate 7%
$542,257
$542.3K
Cap Rate 9%
$421,756
$421.8K
Market Conditions
NOI Build-Up for 2,808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.6K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$54.2K $19.31/SF
− OpEx
−$16.3K −$5.79/SF
NOI
$38.0K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,160
Cap Rate 7%
$542,257
Cap Rate 9%
$421,756
Alternative Uses
Best Use
Multifamily LT 5
$542.3K
$474.5K – $632.6K
NOI $37,958 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.6K
NOI $33,033 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$958.9K
$839.0K – $1.12M
NOI $67,122 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer two- and three-bedroom layouts with individual laundry hookups; Unit 1 can be delivered vacant.
Where is this triplex located?
The property is located at 115 Beech Fitchburg, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑unit triplex with 2808 square feet of building area; Unit mix includes two 3‑bedroom apartments and one 2‑bedroom apartment; Each unit has washer and dryer hookups
