Three-Unit Multi-Family
29-31 Cotton St Leominster, MA 01453
For Sale
$749,000
Three separate units with private entrances, utilities, and 10 parking spaces in an RC zoning district.
Property Size3,288 SF
Price / SF$227.80
Days on Market52
Property Features for 29-31 Cotton St
General Information
- Standard status
- Active
- Size
- 3,288 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1901
Listing Agency:
Edward Perez
(603) 498-4402
Listed By:
Jordan Healy
(413) 717-0635
Source:
Lockandkeyre
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 26 at 2:12PM
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 Edward Perez
Investment Insights
Based on property information with market context.
This three-unit multi-family property includes two spacious three-bedroom, townhouse-style units with private entrances and a one-bedroom upper unit. All units have separate utilities. The walk-up attic provides additional usable space for expansion, including the possibility of adding bedrooms, subject to buyer due diligence. Exterior amenities include a generous backyard, two farmer-style porches, a deck, and a storage shed. Public sewer and water are available, and the electrical service is noted as an area with room for improvement.
The property is located in Leominster’s RC zoning district and is described as being steps from downtown Leominster, schools, and transit. The remarks also cite direct access to Routes 2 and 12, supporting an easy commute to Worcester and Boston.
For buyers seeking a residential income property, the combination of separate utilities, off-street parking for 10 vehicles, and an attic that may support additional space can be appealing. The remarks also note that the property may qualify for a detached ADU, with zoning confirmation required through the municipality. Electrical updates may provide an opportunity to modernize and improve functionality over time.
The property is located in Leominster’s RC zoning district and is described as being steps from downtown Leominster, schools, and transit. The remarks also cite direct access to Routes 2 and 12, supporting an easy commute to Worcester and Boston.
For buyers seeking a residential income property, the combination of separate utilities, off-street parking for 10 vehicles, and an attic that may support additional space can be appealing. The remarks also note that the property may qualify for a detached ADU, with zoning confirmation required through the municipality. Electrical updates may provide an opportunity to modernize and improve functionality over time.
Key Highlights
- Three‑unit multi‑family built in 1901: two 3‑bedroom townhouse‑style units and one 1‑bedroom upper unit
- Each unit has a private entrance and separate utilities
- RC zoning district; walk‑up attic with open space that may allow expansion of the 1‑bedroom unit (buyer to verify via due diligence)
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 | $65.1k | $19.80 |
| − Vacancy | −$1.6k | −$0.49 |
| EGI | $63.5k | $19.31 |
| − OpEx | −$19.0k | −$5.79 |
| NOI | $44.4k | $13.52 |
3,288 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$634.9K
$555.6K – $740.8K
NOI $44,446 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$552.6K
$483.5K – $644.7K
NOI $38,680 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.12M
$982.5K – $1.31M
NOI $78,596 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three separate units with private entrances, utilities, and 10 parking spaces in an RC zoning district.
Where is this triplex located?
The property is located at 29-31 Cotton St Leominster, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three‑unit multi‑family built in 1901: two 3‑bedroom townhouse‑style units and one 1‑bedroom upper unit; Each unit has a private entrance and separate utilities; RC zoning district; walk‑up attic with open space that may allow expansion of the 1‑bedroom unit (buyer to verify via due diligence)
