Three-Unit Residential Income
For Sale
$559,999
21-23 Omena Pl, Fitchburg, MA 01420
Three-family home with separate utilities, updated vinyl exterior, and a vacant second-floor unit.
Property Size3,447 SF
Price / SF$162.46
Days on Market111
Property Features for 21-23 Omena Pl
General Information
Standard status
Active
Size
3,447 SF
Property subtype
3 Family - 3 Units Up/Down
Additional Details
Multifamily Units
3
Building Details
Building Size
3,447 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
Francisco Cruz Real Estate
Listed By:
Francisco Cruz · License #9051661
(978) 828-2889
Source:
Iverty
Added: Jul 7
Changed: Oct 25
Last Checked: Oct 24 at 6:42PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,595
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,900
$931.9K
Cap Rate 7%
$665,643
$665.6K
Cap Rate 9%
$517,722
$517.7K
Market Conditions
NOI Build-Up for 3,447 SF
Gross rent
$68.3K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$66.6K $19.31/SF
− OpEx
−$20.0K −$5.79/SF
NOI
$46.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,900
Cap Rate 7%
$665,643
Cap Rate 9%
$517,722
Alternative Uses
Best Use
Multifamily LT 5
$665.6K
$582.4K – $776.6K
NOI $46,595 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$579.3K
$506.9K – $675.8K
NOI $40,550 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,397 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 $559,999.
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
