3-Unit Multifamily
For Sale
$750,000
35 3rd Ave, Leominster, MA 01453
Fully occupied triplex with consistent three-bedroom layouts and natural gas forced-air heat.
Property Size3,697 SF
Price / SF$202.87
Days on Market35
Property Features for 35 3rd Ave
General Information
Standard status
Active
Size
3,697 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,275
Listing Agency:
Realty Negotiations, LLC
(978) 406-5134
Listed By:
Olivia Grabka
(978) 842-9485
Source:
Exprealty
Added: Sep 1
Changed: Oct 2
Last Checked: Oct 4 at 3:47PM
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 Realty Negotiations, LLC
Investment Insights
Based on property information with market context.
This three-unit multifamily property at 35 3rd Ave includes three matching residences, each with 3 bedrooms and 1 bathroom. The building contains 3,697 square feet of living space on a 0.21-acre lot, was built in 1920, and has vinyl siding, along with forced-air natural gas heating. All units are occupied by tenants.
The property is in Leominster near Watertower Plaza, the Mall at Whitney Field, Louis Charpentier Playground, and Carter Park. Access to the MBTA Commuter Rail provides a connection toward Boston, while major highways are also nearby.
The property is in Leominster near Watertower Plaza, the Mall at Whitney Field, Louis Charpentier Playground, and Carter Park. Access to the MBTA Commuter Rail provides a connection toward Boston, while major highways are also nearby.
Key Highlights
- Three occupied units, each configured with 3 bedrooms and 1 bathroom
- 3,697 square feet of living space on a 0.21‑acre lot
- Built in 1920 with vinyl siding exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,975
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,500
$999.5K
Cap Rate 7%
$713,929
$713.9K
Cap Rate 9%
$555,278
$555.3K
Market Conditions
NOI Build-Up for 3,697 SF
Gross rent
$73.2K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$71.4K $19.31/SF
− OpEx
−$21.4K −$5.79/SF
NOI
$50.0K $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%
$999,500
Cap Rate 7%
$713,929
Cap Rate 9%
$555,278
Alternative Uses
Best Use
Multifamily LT 5
$713.9K
$624.7K – $832.9K
NOI $49,975 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$621.3K
$543.6K – $724.9K
NOI $43,491 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,373 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
394
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with consistent three-bedroom layouts and natural gas forced-air heat.
Where is this triplex located?
The property is located at 35 3rd Ave Leominster, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three occupied units, each configured with 3 bedrooms and 1 bathroom; 3,697 square feet of living space on a 0.21‑acre lot; Built in 1920 with vinyl siding exterior
