Remodeled 4-Unit
For Sale
$995,000
Pending
345 West St, Leominster, MA 01453
Remodeled quadplex with separate utilities, basement laundry, and off-street parking.
Property Size4,214 SF
Days on Market70
Property Features for 345 West St
General Information
Standard status
Pending
Size
4,214 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,921
Amenities
laundry room
wall A/C units
electric fireplaces
intercom system
energy-saving appliances
Building Details
Building Size
4,214 SF
Year Built
1871
Listing Agency:
Faith Realty, LLC
Listed By:
Adriana Nunes
(774) 696-9818
Source:
Classifiedrealtygroup
Added: Aug 8
Changed: Oct 10
Last Checked: Oct 16 at 6:11AM
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 Faith Realty, LLC
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Investment Insights
Based on property information with market context.
This 4,214-square-foot quadplex, built in 1871, has undergone remodeling and includes four residential units. The property is positioned on a corner lot and features separate utility systems, with tenants responsible for their own utilities. Interior and building improvements include energy-saving appliances, an insulated closed-cell foam roof, wall-mounted air-conditioning units, electric fireplaces, and an intercom system.
A basement laundry room and 8 off-street parking spaces add practical amenities for residents. The property is zoned RA and is situated near shopping, restaurants, local amenities, and major routes. Its existing four-unit configuration and range of completed improvements provide a clearly defined multifamily asset for consideration.
A basement laundry room and 8 off-street parking spaces add practical amenities for residents. The property is zoned RA and is situated near shopping, restaurants, local amenities, and major routes. Its existing four-unit configuration and range of completed improvements provide a clearly defined multifamily asset for consideration.
Key Highlights
- Four‑unit quadplex totaling 4,214 SF
- Remodeled property built in 1871
- RA zoning on a corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,963
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,260
$1.1M
Cap Rate 7%
$813,757
$813.8K
Cap Rate 9%
$632,922
$632.9K
Market Conditions
NOI Build-Up for 4,214 SF
Gross rent
$83.4K $19.80/SF
− Vacancy
−$2.1K −$0.49/SF
EGI
$81.4K $19.31/SF
− OpEx
−$24.4K −$5.79/SF
NOI
$57.0K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,139,260
Cap Rate 7%
$813,757
Cap Rate 9%
$632,922
Alternative Uses
Best Use
Multifamily LT 5
$813.8K
$712.0K – $949.4K
NOI $56,963 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$708.2K
$619.7K – $826.2K
NOI $49,573 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,731 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled quadplex with separate utilities, basement laundry, and off-street parking.
Where is this quadplex located?
The property is located at 345 West St Leominster, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4,214 SF; Remodeled property built in 1871; RA zoning on a corner lot
