Six-Unit Apartment
For Sale
$950,000
69 Nichols St, Gardner, MA 01440
Fully occupied multifamily property with consistent two-bedroom layouts and nearby shopping, parks, and an elementary school.
Property Size5,454 SF
Lot Size0.20 Acres
Price / SF$174.18
Days on Market34
Property Features for 69 Nichols St
General Information
Standard status
Active
Size
5,454 SF
Total Parking Spaces
6
Lot size
0.20 Acres
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,946
Building Details
Building Size
5,454 SF
Year Built
1907
Listing Agency:
Realty Negotiations, LLC
Listed By:
Olivia Grabka
(978) 397-8626
Source:
Classifiedrealtygroup
Added: Sep 2
Changed: Oct 2
Last Checked: Oct 4 at 7:01AM
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 Negotiations, LLC
Investment Insights
Based on property information with market context.
This six-unit apartment building contains 5,454 square feet of living space on a 0.2-acre lot. Constructed in 1907, the property includes six residential units, each configured with two bedrooms and one bathroom. All units are currently occupied by tenants, providing an established rental operation.
The property is located in Gardner near Hannaford, Price Chopper, Pulaski Playground and Dog Park, Maki Park, and Gardner Elementary School. Its residential setting places everyday shopping, recreational areas, and a local school within the surrounding area.
The property is located in Gardner near Hannaford, Price Chopper, Pulaski Playground and Dog Park, Maki Park, and Gardner Elementary School. Its residential setting places everyday shopping, recreational areas, and a local school within the surrounding area.
Key Highlights
- Six‑unit multifamily property with all units currently occupied
- Each apartment offers a 2‑bedroom, 1‑bath layout
- 5,454 sq ft of living space on a 0.2‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,161
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,283,220
$1.3M
Cap Rate 7%
$916,586
$916.6K
Cap Rate 9%
$712,900
$712.9K
Market Conditions
NOI Build-Up for 5,454 SF
Gross rent
$119.8K $21.96/SF
− Vacancy
−$3.1K −$0.57/SF
EGI
$116.7K $21.39/SF
− OpEx
−$52.5K −$9.63/SF
NOI
$64.2K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,283,220
Cap Rate 7%
$916,586
Cap Rate 9%
$712,900
Alternative Uses
Best Use
Apartment 5plus
$916.6K
$802.0K – $1.07M
NOI $64,161 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,372 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with consistent two-bedroom layouts and nearby shopping, parks, and an elementary school.
Where is this apartment building located?
The property is located at 69 Nichols St Gardner, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑unit multifamily property with all units currently occupied; Each apartment offers a 2‑bedroom, 1‑bath layout; 5,454 sq ft of living space on a 0.2‑acre lot
