Leominster Four-Family Investment
33-35 Lancaster St Leominster, MA 01453
33-35 Lancaster St, Leominster, MA, 01453
$879,000
Pending
For Sale
$879,000
Pending
MULTI_FAMILY - Leominster, MA
Property Size3,630 SF
Lot Size0.16 Acres
Days on Market78
Property Features for 33-35 Lancaster St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RC
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 5
- Parking
- 11
- Standard status
- Pending
- Size
- 3,630 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8353
Building Details
- Year built
- 1900
- Floors in Building
- 4
- Number of units
- 4
Listing agency
REMAX Andrew Realty Services
(781) 395-7676
Listed by
John Veneziano
(781) 395-7676
Added: May 6 Updated: Jul 11 at 3:33AM Checked: Jul 22 at 9:06PM
MLS# 73513673
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.
Located in the heart of Leominster, 33-35 Lancaster Street presents a rare opportunity to own a well-maintained four-family property. This investment features spacious units, including two-bedroom units on the first, second, and third floors. The third-floor unit also includes a bonus room suitable for an office or den. Additionally, there is a one-bedroom open-concept basement apartment with a slider off the living room. The property boasts large rooms and hardwood floors. Units 1, 2, and 3 have the convenience of in-unit washers and dryers. Each unit is separately metered for gas and electric. New ductless mini-split systems provide both heating and cooling. Most units include desirable features such as pantries and enclosed porches, excluding the basement unit. Recent updates enhance the property's appeal, including upgraded kitchens with granite countertops and cabinetry, as well as improved bathrooms throughout. The property, situated on a 0.1589-acre lot, offers off-street parking and a large rear lot providing ample parking for tenants. The building size is 3,630 square feet. The zoning is RC.
Key Highlights
- Four‑family property at 33‑35 Lancaster Street in Leominster, built in 1900
- Unit mix: three 2‑bedroom units plus a basement 1‑bedroom apartment with a slider off the living room
- In‑unit washers and dryers in units 1, 2, and 3; each unit is separately metered for gas and electric
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.9k | $19.80 |
| − Vacancy | −$1.8k | −$0.49 |
| EGI | $70.1k | $19.31 |
| − OpEx | −$21.0k | −$5.79 |
| NOI | $49.1k | $13.52 |
3,630 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.4K – $817.8K
NOI $49,069 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$610.0K
$533.8K – $711.7K
NOI $42,703 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,772 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained four-family property in Leominster with spacious units.
Where is this quadplex located?
The property is located at 33-35 Lancaster St Leominster, MA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Four‑family property at 33‑35 Lancaster Street in Leominster, built in 1900; Unit mix: three 2‑bedroom units plus a basement 1‑bedroom apartment with a slider off the living room; In‑unit washers and dryers in units 1, 2, and 3; each unit is separately metered for gas and electric
