Three-Unit Triplex with Four-Bedroom
New
For Sale
$524,900
282 Charles Street, Fitchburg, MA 01420
Three apartments include a two-level residence, with separate gas and electric service.
Property Size2,196 SF
Price / SF$239.03
Days on Market7
Property Features for 282 Charles Street
General Information
Standard status
Active
Size
2,196 SF
Property subtype
Multi-family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR, 1 x 4BR
Multifamily Units
3
Amenities
fenced in back yard
Building Details
Year Built
1897
Listing Agency:
Keller Williams Realty North Central
Listed By:
Nicholas L. Pelletier
(978) 922-3683
Source:
Jbarrettrealty
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 9:47AM
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 North Central
Investment Insights
Based on property information with market context.
Built in 1897, this 2,196-square-foot triplex contains two one-bedroom apartments and a four-bedroom apartment arranged across two levels. The property also has separate gas and electric service, off-street parking, and a fenced backyard.
The residence is in Fitchburg, a short distance from Fitchburg Rock Walk, downtown amenities, and the MBTA Commuter Rail.
The residence is in Fitchburg, a short distance from Fitchburg Rock Walk, downtown amenities, and the MBTA Commuter Rail.
Key Highlights
- Three apartments: two one‑bedroom units and one four‑bedroom unit
- Four‑bedroom apartment spans two levels
- 2,196 square feet; built in 1897
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,685
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,700
$593.7K
Cap Rate 7%
$424,071
$424.1K
Cap Rate 9%
$329,833
$329.8K
Market Conditions
NOI Build-Up for 2,196 SF
Gross rent
$43.5K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$42.4K $19.31/SF
− OpEx
−$12.7K −$5.79/SF
NOI
$29.7K $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%
$593,700
Cap Rate 7%
$424,071
Cap Rate 9%
$329,833
Alternative Uses
Best Use
Multifamily LT 5
$424.1K
$371.1K – $494.8K
NOI $29,685 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$369.1K
$322.9K – $430.6K
NOI $25,834 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$749.9K
$656.2K – $874.9K
NOI $52,493 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
728
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
Check the figures for this property
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?
Triplex - Three apartments include a two-level residence, with separate gas and electric service.
Where is this triplex located?
The property is located at 282 Charles Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Three apartments: two one‑bedroom units and one four‑bedroom unit; Four‑bedroom apartment spans two levels; 2,196 square feet; built in 1897
