Renovated Triplex with Dedicated
New
For Sale
$574,999
114-116 Laurel Street, Fitchburg, MA 01420
Three residential units include a recently updated vacant apartment, assigned parking, and convenient access to commuter rail.
Property Size3,542 SF
Price / SF$162.34
Days on Market3
Property Features for 114-116 Laurel Street
General Information
Standard status
Active
Size
3,542 SF
Total Parking Spaces
7
Property subtype
Multi-family
Lease Term
[]
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR, 1 x 2BR/2BA
Multifamily Units
3
Parking per Unit
2
Amenities
coin-operated laundry room
basement storage bays
motion-sensor lighting
CCTV camera system
two-level covered rear deck
shared yard
Building Details
Year Built
1920
Year Renovated
2019
Buildings
1
Tenancy
Multi
Listing Agency:
eXp Realty LLC
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Foster-healey
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 7:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
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Investment Insights
Based on property information with market context.
This 1920-built triplex contains 3,542 square feet across three apartments: a vacant first-floor unit with three bedrooms and two baths, plus upstairs one-bedroom and two-bedroom, two-bath units. Renovations completed in 2018–2019 included plumbing, wiring, heating, flooring, and appliances. The building has two kitchens with white cabinetry and granite-look countertops, a two-level covered rear deck, shared yard, basement storage bays, and laundry facilities. The first-floor apartment has washer hookups; a coin-operated room also serves a neighboring six-family property. Wall-mounted natural-gas Rinnai units provide hot-water baseboard heat, and water lines are configured for sub-metering. Tenants pay their own heat, hot water, electricity, and gas.
The property includes two deeded tracts on one tax parcel, including a paved corner parking lot at Laurel and Cross Streets. Each apartment has two assigned spaces, with another space rented to a neighboring business. Fitchburg commuter rail is 0.4 mile away; Market Basket is approximately one-third of a mile away, Fitchburg State University is one mile away, and Route 2 is three miles away. The two occupied apartments are leased through September 2027.
The property includes two deeded tracts on one tax parcel, including a paved corner parking lot at Laurel and Cross Streets. Each apartment has two assigned spaces, with another space rented to a neighboring business. Fitchburg commuter rail is 0.4 mile away; Market Basket is approximately one-third of a mile away, Fitchburg State University is one mile away, and Route 2 is three miles away. The two occupied apartments are leased through September 2027.
Key Highlights
- Three apartments: 3‑bedroom, 2‑bath vacant unit; 1‑bedroom unit; and 2‑bedroom, 2‑bath unit
- 3,542 square feet; built in 1920
- Renovations in 2018–2019 included plumbing, wiring, heating, flooring, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,880
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,600
$957.6K
Cap Rate 7%
$684,000
$684.0K
Cap Rate 9%
$532,000
$532.0K
Market Conditions
NOI Build-Up for 3,542 SF
Gross rent
$70.1K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$68.4K $19.31/SF
− OpEx
−$20.5K −$5.79/SF
NOI
$47.9K $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 Rate 5%
$957,600
Cap Rate 7%
$684,000
Cap Rate 9%
$532,000
Alternative Uses
Best Use
Multifamily LT 5
$684.0K
$598.5K – $798.0K
NOI $47,880 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,668 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,668 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
907
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a recently updated vacant apartment, assigned parking, and convenient access to commuter rail.
Where is this triplex located?
The property is located at 114-116 Laurel Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $574,999.
What are key features of this property?
This property features: Three apartments: 3‑bedroom, 2‑bath vacant unit; 1‑bedroom unit; and 2‑bedroom, 2‑bath unit; 3,542 square feet; built in 1920; Renovations in 2018–2019 included plumbing, wiring, heating, flooring, and appliances
