Townhouse-Style 4-Unit Residential
123 Lancaster Street Leominster, MA 01453
For Sale
$749,900
Four-unit residential income property includes a townhouse-style 2BR/2BA unit, off-street parking, and outdoor yard space.
Property Size3,474 SF
Price / SF$215.86
Days on Market123
Property Features for 123 Lancaster Street
General Information
- Standard status
- Active
- Size
- 3,474 SF
- Property subtype
- Multi-family / 4 Family
Building Details
- Year Built
- 1900
Listing Agency:
Realty One Group Nest
(978) 255-4394
Listed By:
Olivares Molina TEAM
(978) 255-4394
Source:
Compass
Added: Mar 23
Changed: Jul 23
Last Checked: Jul 23 at 8:36AM
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 Realty One Group Nest
Investment Insights
Based on property information with market context.
This four-unit residential income property includes a townhouse-style unit with two bedrooms and two bathrooms. The remaining three units offer functional layouts with spacious living areas, eat-in kitchens, and natural light. Additional space and storage are available in the walk-out basement, along with outdoor areas that include front and side yards.
The property is located across from a shopping plaza and provides easy highway access, supporting convenient day-to-day connectivity for residents and guests.
With ample off-street parking and multiple units, the configuration is well-suited for an owner seeking a straightforward multi-unit structure with defined outdoor spaces and added basement storage.
The property is located across from a shopping plaza and provides easy highway access, supporting convenient day-to-day connectivity for residents and guests.
With ample off-street parking and multiple units, the configuration is well-suited for an owner seeking a straightforward multi-unit structure with defined outdoor spaces and added basement storage.
Key Highlights
- 4‑unit residential income property with a 2BR/2BA townhouse‑style unit plus 3 additional units
- 5 total bathrooms; interiors include living room, dining room, kitchen, and family room
- Partially finished walk‑out basement offers additional space and storage
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 | $68.8k | $19.80 |
| − Vacancy | −$1.7k | −$0.49 |
| EGI | $67.1k | $19.31 |
| − OpEx | −$20.1k | −$5.79 |
| NOI | $47.0k | $13.52 |
3,474 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$670.9K
$587.0K – $782.7K
NOI $46,960 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$583.8K
$510.9K – $681.1K
NOI $40,868 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,042 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit residential income property includes a townhouse-style 2BR/2BA unit, off-street parking, and outdoor yard space.
Where is this quadplex located?
The property is located at 123 Lancaster Street Leominster, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 4‑unit residential income property with a 2BR/2BA townhouse‑style unit plus 3 additional units; 5 total bathrooms; interiors include living room, dining room, kitchen, and family room; Partially finished walk‑out basement offers additional space and storage
