Renovated Multifamily
For Sale
$429,999
18 Knowlton St, Gardner, MA 01440
Permitted 2021 renovation includes upgraded building systems and refreshed kitchens.
Property Size1,838 SF
Price / SF$233.95
Days on Market54
Property Features for 18 Knowlton St
General Information
Standard status
Active
Size
1,838 SF
Property subtype
Multi Family
Building Details
Year Built
1895
Year Renovated
2021
Listing Agency:
Realty Negotiations, LLC
(978) 406-5134
Listed By:
Olivia Grabka
(978) 842-9485
Source:
Lockandkeyre
Added: Aug 13
Changed: Oct 4
Last Checked: Oct 4 at 10:30AM
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 Realty Negotiations, LLC
Investment Insights
Based on property information with market context.
This multifamily property was comprehensively renovated under permit in 2021. The work included replacement of the boilers, plumbing, and electrical systems, along with renewed kitchens featuring new cabinetry and appliances. The property has been professionally managed and maintained since the renovation.
The building is currently occupied by tenants at will, while the first-floor unit is scheduled to be vacant at closing. That configuration may accommodate an owner-occupant or an investor, subject to applicable requirements. Built in 1895, the property is located at 18 Knowlton St in Gardner, Massachusetts. Walk Score is 73 and Bike Score is 25.
The building is currently occupied by tenants at will, while the first-floor unit is scheduled to be vacant at closing. That configuration may accommodate an owner-occupant or an investor, subject to applicable requirements. Built in 1895, the property is located at 18 Knowlton St in Gardner, Massachusetts. Walk Score is 73 and Bike Score is 25.
Key Highlights
- Comprehensive renovation completed under permit in 2021
- New boilers, plumbing, and electrical systems throughout
- Renovated kitchens with new cabinetry and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,622
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,440
$432.4K
Cap Rate 7%
$308,886
$308.9K
Cap Rate 9%
$240,244
$240.2K
Market Conditions
NOI Build-Up for 1,838 SF
Gross rent
$40.4K $21.96/SF
− Vacancy
−$1.0K −$0.57/SF
EGI
$39.3K $21.39/SF
− OpEx
−$17.7K −$9.63/SF
NOI
$21.6K $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%
$432,440
Cap Rate 7%
$308,886
Cap Rate 9%
$240,244
Alternative Uses
Best Use
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,622 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.7K
$549.2K – $732.3K
NOI $43,936 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
749
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Permitted 2021 renovation includes upgraded building systems and refreshed kitchens.
Where is this multifamily property located?
The property is located at 18 Knowlton St Gardner, MA.
What is the asking price?
The asking price for this property is $429,999.
What are key features of this property?
This property features: Comprehensive renovation completed under permit in 2021; New boilers, plumbing, and electrical systems throughout; Renovated kitchens with new cabinetry and appliances
