Turnkey Quadplex with Off-Street
For Sale
$1,300,000
115-117 Mechanic, Clinton, MA 01510
Four fully restored 2-bedroom apartments with in-unit laundry hookups, secure basement storage, and off-street parking.
Property Size4,649 SF
Price / SF$279.63
Days on Market59
Property Features for 115-117 Mechanic
General Information
Standard status
Active
Size
4,649 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
REMAX Executive Realty
(978) 807-7784
Listed By:
The Journey Group
Source:
Classifiedrealtygroup
Added: Jun 2
Changed: Jul 21
Last Checked: Jul 22 at 3:30AM
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
Investment Insights
Based on property information with market context.
This turnkey quadplex has been thoughtfully transformed into four brand-new, fully restored residences. The property features four 2-bedroom, 1-bath apartments with refinished hardwood floors and new energy-efficient windows, along with inviting open-concept layouts. Kitchens include stainless appliances and Carrara quartz countertops, complemented by contemporary finishes. Each unit offers two generous bedrooms, a full bath with tile flooring and quality fixtures, modern lighting, and high-efficiency heating and cooling. In-unit laundry hookups and secure basement storage are provided for each apartment, and there is off-street parking for two vehicles per unit.
Located in the heart of downtown, the property is just steps to restaurants and shopping, and close to Central Park.
Located in the heart of downtown, the property is just steps to restaurants and shopping, and close to Central Park.
Key Highlights
- Four fully restored 2‑bedroom, 1‑bath apartments (Year built: 1900), with unit sizes of 1,362 SF, 1,355 SF, 1,014 SF, and 918 SF.
- Open‑concept layouts with refinished hardwood floors, new energy‑efficient windows, and modern lighting throughout.
- Kitchens include stainless appliances and Carrara quartz countertops with contemporary finishes.
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 | $92.1k | $19.80 |
| − Vacancy | −$2.3k | −$0.49 |
| EGI | $89.8k | $19.31 |
| − OpEx | −$26.9k | −$5.79 |
| NOI | $62.8k | $13.52 |
4,649 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$897.8K
$785.6K – $1.05M
NOI $62,844 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$781.3K
$683.6K – $911.5K
NOI $54,691 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,130 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully restored 2-bedroom apartments with in-unit laundry hookups, secure basement storage, and 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 $1,300,000.
What are key features of this property?
This property features: Four fully restored 2‑bedroom, 1‑bath apartments (Year built: 1900), with unit sizes of 1,362 SF, 1,355 SF, 1,014 SF, and 918 SF.; Open‑concept layouts with refinished hardwood floors, new energy‑efficient windows, and modern lighting throughout.; Kitchens include stainless appliances and Carrara quartz countertops with contemporary finishes.
