Renovated Four-Unit Apartment
For Sale
$1,400,000
115-117 Mechanic, Clinton, MA 01510
Four renovated apartments offer modern finishes, private laundry hookups, basement storage, and dedicated off-street parking.
Property Size4,649 SF
Price / SF$301.14
Days on Market167
Property Features for 115-117 Mechanic
General Information
Standard status
Active
Size
4,649 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
RB
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
2
Amenities
in-unit laundry hookups
secure basement storage
Building Details
Building Size
4,649 SF
Year Built
1900
Stories
4
Listing Agency:
REMAX Executive Realty
Listed By:
The Journey Group
(978) 807-7784
Source:
Hometown-team
Added: May 3
Changed: Sep 4
Last Checked: Aug 31 at 12:56PM
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 REMAX Executive Realty
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Investment Insights
Based on property information with market context.
This four-unit apartment property contains 4,649 square feet across four renovated residences. Each apartment includes two bedrooms and one full bathroom, with individual layouts ranging from 918 to 1,362 square feet. Interior improvements include refinished hardwood flooring, energy-efficient windows, open-concept living areas, stainless steel kitchen appliances, Carrara quartz countertops, updated lighting, and contemporary fixtures. Each residence also includes laundry hookups, efficient heating and cooling, and secured basement storage.
The property provides off-street parking for two vehicles per apartment and is zoned RB. Its Clinton setting places the residences in the downtown area, within walking distance of restaurants, shopping, and Central Park. Originally constructed in 1900, the building has been adapted into four updated rental residences.
The property provides off-street parking for two vehicles per apartment and is zoned RB. Its Clinton setting places the residences in the downtown area, within walking distance of restaurants, shopping, and Central Park. Originally constructed in 1900, the building has been adapted into four updated rental residences.
Key Highlights
- Four renovated apartments, each with 2 bedrooms and 1 full bathroom
- Unit sizes range from 918 to 1,362 square feet within a 4,649‑square‑foot property
- Refinished hardwood floors, stainless appliances, and Carrara quartz kitchen countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,844
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,880
$1.3M
Cap Rate 7%
$897,771
$897.8K
Cap Rate 9%
$698,267
$698.3K
Market Conditions
NOI Build-Up for 4,649 SF
Gross rent
$92.1K $19.80/SF
− Vacancy
−$2.3K −$0.49/SF
EGI
$89.8K $19.31/SF
− OpEx
−$26.9K −$5.79/SF
NOI
$62.8K $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%
$1,256,880
Cap Rate 7%
$897,771
Cap Rate 9%
$698,267
Alternative Uses
Best Use
Multifamily LT 5
$897.8K
$785.6K – $1.05M
NOI $62,844 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$781.3K
$683.6K – $911.5K
NOI $54,691 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,130 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four renovated apartments offer modern finishes, private laundry hookups, basement storage, and dedicated off-street parking.
Where is this quadplex located?
The property is located at 115-117 Mechanic Clinton, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four renovated apartments, each with 2 bedrooms and 1 full bathroom; Unit sizes range from 918 to 1,362 square feet within a 4,649‑square‑foot property; Refinished hardwood floors, stainless appliances, and Carrara quartz kitchen countertops
