Three-Unit Residential Income
21-23 Omena Pl Fitchburg, MA 01420
21-23 Omena Pl, Fitchburg, MA, 01420
$569,000
For Sale
$569,000
Three-family home with separate utilities, updated vinyl exterior, and a vacant second-floor unit.
Property Size3,447 SF
Price / SF$165.07
Days on Market15
Property Features for 21-23 Omena Pl
General Information
- Standard status
- Active
- Size
- 3,447 SF
- Property subtype
- 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1915
Listing agency
Francisco Cruz Real Estate
(978) 828-2889
Listed by
Francisco Cruz · License #452508574
(978) 828-2889
Source
Iverty
Added: Jul 7 Updated: Jul 21 at 3:04AM Checked: Jul 21 at 3:04AM
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 Francisco Cruz Real Estate
Investment Insights
Based on property information with market context.
This three-family residential income property features separate utilities and multiple updates completed over the years. Vinyl windows and vinyl siding are in place, and the interior has been freshly painted. Apt. #1 and Apt. #3 are currently rented, while the second-floor apartment is vacant and ready for owner occupancy or a new tenant.
The property includes a high-ceiling basement with both interior and exterior access. For showings, 24-hour notice is required.
The property includes a high-ceiling basement with both interior and exterior access. For showings, 24-hour notice is required.
Key Highlights
- 1915 three‑family home with a vacant second‑floor apartment ready for owner occupancy
- Apt #1 and Apt #3 are currently rented
- Separate utilities for the three units
Local 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 | $68.3k | $19.80 |
| − Vacancy | −$1.7k | −$0.49 |
| EGI | $66.6k | $19.31 |
| − OpEx | −$20.0k | −$5.79 |
| NOI | $46.6k | $13.52 |
3,447 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.6K
$582.4K – $776.6K
NOI $46,595 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$579.3K
$506.9K – $675.8K
NOI $40,550 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,397 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family home with separate utilities, updated vinyl exterior, and a vacant second-floor unit.
Where is this triplex located?
The property is located at 21-23 Omena Pl Fitchburg, MA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 1915 three‑family home with a vacant second‑floor apartment ready for owner occupancy; Apt #1 and Apt #3 are currently rented; Separate utilities for the three units
