4-Unit Multifamily With Separate
141 Mechanic St Fitchburg, MA 01420
New
141 Mechanic St, Fitchburg, MA, 01420
$750,000
For Sale
$750,000
Four units each have separate utilities and laundry hookups, with separate entrances and eight parking spaces.
Property Size4,864 SF
Price / SF$154.19
Days on Market7
Property Features for 141 Mechanic St
General Information
- Standard status
- Active
- Size
- 4,864 SF
- Property subtype
- 4 Family - 4 Units Up/Down
Building Details
- Year Built
- 1910
Listing agency
Keller Williams Realty Metropolitan
(603) 759-1141
Listed by
Lisa Scacchi
(603) 759-1141
Source
Iverty
Added: Jul 16 Updated: Jul 21 at 2:32PM Checked: Jul 21 at 2:32PM
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 Keller Williams Realty Metropolitan
Investment Insights
Based on property information with market context.
This four-unit multifamily property is configured for tenant independence, with each unit having separate utilities and laundry hookups. Tenants pay their own heat and electricity. The building offers improved front and rear entrances with newer stairways, and each unit has its own separate entrance. The property totals 12 bedrooms and 4 bathrooms, and includes eight parking spaces.
The sale transfers on a single unified lot, previously two lots, and notes indicate you should review both deeds. The property is described as being near downtown Fitchburg and Fitchburg State University, with access to public transportation and other local amenities.
One long-term, at-will tenant is currently in place and would like to remain. The other three units are expected to be transferred vacant, providing flexibility for an owner-occupant seeking rental income or for investors.
The sale transfers on a single unified lot, previously two lots, and notes indicate you should review both deeds. The property is described as being near downtown Fitchburg and Fitchburg State University, with access to public transportation and other local amenities.
One long-term, at-will tenant is currently in place and would like to remain. The other three units are expected to be transferred vacant, providing flexibility for an owner-occupant seeking rental income or for investors.
Key Highlights
- 4‑family building built in 1910 with 12 bedrooms and 4 bathrooms
- Each unit has separate utilities and laundry hookups, with tenants paying their own heat & electricity
- Four units each have separate entrances, plus improved front and rear entrances with newer stairways
Local Financial Insights For Apartment 5plus
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 | $106.8k | $21.96 |
| − Vacancy | −$2.8k | −$0.57 |
| EGI | $104.0k | $21.39 |
| − OpEx | −$46.8k | −$9.63 |
| NOI | $57.2k | $11.76 |
4,864 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$817.4K
$715.3K – $953.7K
NOI $57,220 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,269 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Multifamily property - Four units each have separate utilities and laundry hookups, with separate entrances and eight parking spaces.
Where is this multifamily property located?
The property is located at 141 Mechanic St Fitchburg, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4‑family building built in 1910 with 12 bedrooms and 4 bathrooms; Each unit has separate utilities and laundry hookups, with tenants paying their own heat & electricity; Four units each have separate entrances, plus improved front and rear entrances with newer stairways
