4-Unit Quadplex with
115 Highland Avenue, Fitchburg, MA 01420
For Sale
$699,000
Four separately heated residences include individually metered electricity and shared coin-operated laundry.
Property Size3,436 SF
Price / SF$203.43
Days on Market10
Property Features for 115 Highland Avenue
General Information
Standard status
Size
Property subtype
Occupancy
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
coin-operated laundry
solar panels
Building Details
Year Built
Listing Agency:
Citylight Realty
Listed By:
Michalann Cosme · License #9540166
(978) 660-4906
Source:
Cambridgerealty
Added: Oct 31
Changed: Nov 8
Last Checked: Nov 8 at 6:33AM
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 Citylight Realty
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Investment Insights
Based on property information with market context.
This 4-unit property contains 3,436 square feet and dates to 1910. Each residence has its own heating system and separately metered electricity, with upgraded electrical panels. A coin-operated laundry and three-car garage provide additional building features.
The property is fully occupied. Leased solar panels help reduce electricity costs for common areas. Roofing includes slate along with sections that have been updated, and off-street parking is available.
The property is fully occupied. Leased solar panels help reduce electricity costs for common areas. Roofing includes slate along with sections that have been updated, and off-street parking is available.
Key Highlights
- Four residences; all units are occupied
- 3,436‑square‑foot building constructed in 1910
- Three‑car garage and coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,447
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,940
$928.9K
Cap Rate 7%
$663,529
$663.5K
Cap Rate 9%
$516,078
$516.1K
Market Conditions
NOI Build-Up for 3,436 SF
Gross rent
$68.0K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$66.4K $19.31/SF
− OpEx
−$19.9K −$5.79/SF
NOI
$46.4K $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%
$928,940
Cap Rate 7%
$663,529
Cap Rate 9%
$516,078
Alternative Uses
Best Use
Multifamily LT 5
$663.5K
$580.6K – $774.1K
NOI $46,447 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$577.4K
$505.3K – $673.7K
NOI $40,421 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,134 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
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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
$294,600
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Worcester County, MA
Properties on Market for Quadplexes in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately heated residences include individually metered electricity and shared coin-operated laundry.
Where is this quadplex located?
The property is located at 115 Highland Avenue Fitchburg, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four residences; all units are occupied; 3,436‑square‑foot building constructed in 1910; Three‑car garage and coin‑operated laundry
