Fitchburg Multi-Family Investment Opportunity

306 Franklin Road, Fitchburg, MA 01420

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Pending

$539,000

MULTI_FAMILY - Fitchburg, MA

Property size:

2,060 SF

Lot size:

0.21 Acres

HighLights

2‑unit multifamily built in 1920 with separate utilities and separate heat for each unit
Hardwood floors in both units, with open floor plans, French doors, and built‑ins
Upgraded kitchens and separate dining rooms in each unit
Prior updates include roof (2016), hot water tanks (2018 & 2019), and first‑floor furnace
Fenced yard (2021) plus a covered front farmers porch and huge private backyard
Two‑car garage, lots of attic storage, and 2nd‑level potential for a 3rd bedroom

We can help!

Listing Contact

Rochelle Jonswold

Pending

$539,000

MULTI_FAMILY - Fitchburg, MA

Property size:

2,060 SF

Lot size:

0.21 Acres

Added:: Apr 23, 2026
Days on Market:: 56
Last Refresh:: Jun 17 at 1:06 am

Property Features for 306 Franklin Road

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: RES
Bedrooms: 4
Bathrooms: 2
Rooms: Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking: 5
Standard status: Pending
APN: 1508521
Size: 2,060 SF
Lot size: 0.21 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Annual Amount: 6228

Building Details

Year built: 1920
Floors in Building: 2
Number of units: 2

We can help!

Listing Contact

Rochelle Jonswold

Listing agent Rochelle Jonswold

Listing office Keller Williams Realty North Central 670 Mechanic Street, MA

Listing date Apr 23, 2026

MLS# 73506544 Listing URL

Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

2‑unit multifamily built in 1920 with separate utilities and separate heat for each unit
Hardwood floors in both units, with open floor plans, French doors, and built‑ins
Upgraded kitchens and separate dining rooms in each unit
Prior updates include roof (2016), hot water tanks (2018 & 2019), and first‑floor furnace
Fenced yard (2021) plus a covered front farmers porch and huge private backyard
Two‑car garage, lots of attic storage, and 2nd‑level potential for a 3rd bedroom

Overview

This large two-unit multi-family property is situated in a sought-after area within a university town setting. The property features separate utilities and heat for each unit. Both units include hardwood floors, French doors, built-in features, open floor plans, and bright living rooms. Separate dining rooms and upgraded kitchens enhance the living spaces. Each unit provides bedrooms with ample closet space, with the second level offering the potential for a third bedroom. Updates from prior ownership include refinished hardwood floors, a first-floor furnace, hot water tanks replaced in 2018 and 2019, updated showers, a roof replacement in 2016, and a fenced yard installed in 2021. The property includes attic storage and a covered front farmer's porch. A two-car garage is also present. The large, private backyard offers space for outdoor entertaining. This property is suitable for owner-occupants or investors, with one unit currently vacant. The property is conveniently located near major highways, shopping, restaurants, and transportation.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$40.8k	$19.80
− Vacancy	−$1.0k	−$0.49
EGI	$39.8k	$19.31
− OpEx	−$11.9k	−$5.79
NOI	$27.8k	$13.52

2,060 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$397.8K

$348.1K – $464.1K (±1% cap)

NOI $27,846 @ 7.0% cap · market cap 5.17%

Second Best

Apartment 5plus

$346.2K

$302.9K – $403.9K (±1% cap)

NOI $24,234 @ 7.0% cap · market cap 4.50%

Theoretical Best

Office A

$703.5K

$615.5K – $820.7K (±1% cap)

NOI $49,242 @ 7.0% cap · market cap 9.14%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Fitchburg
County: Worcester
State: Massachusetts
Longitude: -71.822683
Latitude: 42.568581

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For sale
Duplexes
MA
Fitchburg
01420
306 Franklin Road

What type of property is this?

Duplex - Spacious two-unit property with separate utilities and desirable features.

Where is this duplex located?

The property is located at 306 Franklin Road Fitchburg, MA.

What is the asking price?

The asking price for this property is $539,000.

What are key features of this property?

This property features: 2‑unit multifamily built in 1920 with separate utilities and separate heat for each unit; Hardwood floors in both units, with open floor plans, French doors, and built‑ins; Upgraded kitchens and separate dining rooms in each unit

306 Franklin Road, Fitchburg, MA 01420

MULTI_FAMILY - Fitchburg, MA

Property Features for 306 Franklin Road

General Information

Taxes and HOA fees

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Renovated Three-Family Residence

Mixed-Use Building with Apartment

Fitchburg Multi-Tenant Office Building

Established Gas Station Property

Versatile Two-Family Property in Fitchburg

Established Gas Station For Sale

Solid Brick House in Fitchburg

Fitchburg Retail Shopping Strip

Fully Renovated Two-Unit Duplex

Versatile Commercial Property For Sale

Established Gas Station For Sale

Fitchburg Multifamily Residence For Sale

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