Four-Unit Multifamily with Oversized
339 Chestnut Street Gardner, MA 01440
339 Chestnut Street, Gardner, MA, 01440
$649,999
For Sale
$649,999
Well-maintained quadplex with exposed beams, two renovated units, and an oversized garage providing five under-building spaces.
Property Size3,298 SF
Price / SF$197.09
Days on Market42
Property Features for 339 Chestnut Street
General Information
- Standard status
- Active
- Size
- 3,298 SF
- Property subtype
- 4 Family
Building Details
- Year Built
- 1920
Listing agency
Barrett Sotheby's International Realty
(508) 826-8538
Listed by
Jennifer Farnsworth
(508) 826-8538
Source
Lockandkeyre
Added: Jun 10 Updated: Jul 21 at 2:31AM Checked: Jul 21 at 3:29AM
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 Barrett Sotheby's International Realty
Investment Insights
Based on property information with market context.
This four-unit multifamily property offers classic New England character with thoughtful updates. Many units include exposed beams, and Units 2 and 3 have been renovated. Units 1 and 4 retain original woodwork for tenants and owners who value that craftsmanship.
The property includes an oversized garage with five under-building spaces, along with a detached garage measuring approximately 23' x 28' with two additional bays. Two units are currently occupied by long-term tenants, supporting stable rental income. The property is located in an area zoned COM 2.
For more information or to coordinate access, contact your broker. The property is being offered for sale.
The property includes an oversized garage with five under-building spaces, along with a detached garage measuring approximately 23' x 28' with two additional bays. Two units are currently occupied by long-term tenants, supporting stable rental income. The property is located in an area zoned COM 2.
For more information or to coordinate access, contact your broker. The property is being offered for sale.
Key Highlights
- Four‑unit multifamily built in 1920 in a well‑maintained condition
- Units feature exposed beams; Units 2 and 3 are tastefully renovated while Units 1 and 4 retain original woodwork
- Two units currently occupied by long‑term tenants, providing stable rental income
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 | $65.3k | $19.80 |
| − Vacancy | −$1.6k | −$0.49 |
| EGI | $63.7k | $19.31 |
| − OpEx | −$19.1k | −$5.79 |
| NOI | $44.6k | $13.52 |
3,298 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$636.9K
$557.3K – $743.0K
NOI $44,581 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.6K
NOI $38,798 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.13M
$985.4K – $1.31M
NOI $78,835 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained quadplex with exposed beams, two renovated units, and an oversized garage providing five under-building spaces.
Where is this quadplex located?
The property is located at 339 Chestnut Street Gardner, MA.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Four‑unit multifamily built in 1920 in a well‑maintained condition; Units feature exposed beams; Units 2 and 3 are tastefully renovated while Units 1 and 4 retain original woodwork; Two units currently occupied by long‑term tenants, providing stable rental income
