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Well-Maintained Four-Family Property

33-35 Lancaster St Leominster, MA 01453

33-35 Lancaster St, Leominster, MA, 01453

$879,000

For Sale

$879,000

Spacious units, modern upgrades, and prime Leominster location.

Property Size3,630 SF

Price / SF$242.15

AddedMay 6

Days on Market72

Last RefreshJul 15 at 1:52 pm

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 office REMAX Andrew Realty Services

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 REMAX Andrew Realty Services

Investment Insights

Based on property information with market context.

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.

Key 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.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $49,069 @ 7.0% cap · market cap 5.58%

Second Best

Apartment 5plus

$610.0K

$533.8K – $711.7K (±1% cap)

NOI $42,703 @ 7.0% cap · market cap 4.86%

Theoretical Best

Office A

$1.24M

$1.08M – $1.45M (±1% cap)

NOI $86,772 @ 7.0% cap · market cap 9.87%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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Suggested Use

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For sale
Quadplexes
MA
Leominster
01453
33-35 Lancaster St

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.