Well-Maintained Four-Family
33-35 Lancaster St, Leominster, MA 01453
Spacious units, modern upgrades, and prime Leominster location.
Type:4 Family - 4 Units Up/Down
Property size:
3,630 SFPrice / SF:
$242/SF- Added:
- May 6, 2026
- Days on Market:
- 25
- Last Refresh:
- May 15 at 9:38 am
Property Features for 33-35 Lancaster St
General Information
- Standard status
- Active
- Size
- 3,630 SF
- Property subtype
- 4 Family - 4 Units Up/Down
Building Details
- Year Built
- 1900
Listing agent Afonso Realty Group (617) 447-9439
Listing office RE/MAX Andrew Realty Services (617) 447-9439
Listing date May 6, 2026
Source Lockandkeyre
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 RE/MAX Andrew Realty Services
HighLights
- Four‑family property offering a significant investment opportunity.
- New ductless mini‑split systems providing both heating and cooling.
- Upgraded kitchens with granite countertops and cabinetry, plus improved bathrooms.
- In‑unit washers and dryers for three of the four units.
- Separately metered gas and electric for each unit.
- Off‑street parking and a large rear lot.
Overview
Located in the heart of Leominster, 33–35 Lancaster Street presents a rare opportunity to own a well-maintained four-family property. This investment features spacious units, including three units with 2-bedrooms and one 1-bedroom open-concept basement apartment with a slider off the living room. The third-floor unit also includes a bonus room that could be used as an office or den. The property offers large rooms and hardwood floors. Units 1, 2, and 3 have the convenience of in-unit washers and dryers. Each unit is separately metered for gas and electric. New ductless mini-split systems provide both heating and cooling. Most units include desirable features such as pantries and enclosed porches, excluding the basement unit. Recent updates enhance the property’s appeal, including upgraded kitchens with granite countertops and cabinetry, as well as improved bathrooms throughout. Off-street parking and a large rear lot provide ample parking for tenants. The property size is 3,630 square feet.
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 | $71.9k | $19.80 |
| − Vacancy | −$1.8k | −$0.49 |
| EGI | $70.1k | $19.31 |
| − OpEx | −$21.0k | −$5.79 |
| NOI | $49.1k | $13.52 |
3,630 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.4K – $817.8K
NOI $49,069 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$610.0K
$533.8K – $711.7K
NOI $42,703 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,772 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Leominster
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7576533
- Latitude
- 42.522811
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Spacious units, modern upgrades, and prime Leominster location.
Where is this quadplex located?
The property is located at 33-35 Lancaster St Leominster, MA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Four‑family property offering a significant investment opportunity.; New ductless mini‑split systems providing both heating and cooling.; Upgraded kitchens with granite countertops and cabinetry, plus improved bathrooms.
