Six-Unit Apartment
For Sale
$950,000
420 Kimball, Fitchburg, MA 01420
Six three-bedroom apartments with established tenancy and an additional renovated unit available for lease.
Property Size5,538 SF
Price / SF$171.54
Days on Market72
Property Features for 420 Kimball
General Information
Standard status
Active
Size
5,538 SF
Property subtype
5+ Family - 5+ Units Up/Down
Units
Unit Mix
6 x 3BR
Multifamily Units
6
Building Details
Building Size
5,538 SF
Year Built
1900
Buildings
1
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Aug 6
Changed: Oct 16
Last Checked: Oct 16 at 9:39AM
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 IVerty Realty, LLC
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Investment Insights
Based on property information with market context.
This 1900-built apartment property contains six three-bedroom units. Five apartments are occupied by tenants who have remained for 8+ years, while the sixth is vacant, renovated, and ready for leasing. The configuration provides an established residential income component alongside immediate availability in one unit.
The sale also includes two vacant lots currently used for parking. Together, the lots contain 11,180 sf, offer about 125 feet of frontage, and have town utilities at the street. The available land appears sufficient for two single-family homes or two duplex buildings, subject to buyer due diligence and applicable approvals.
The sale also includes two vacant lots currently used for parking. Together, the lots contain 11,180 sf, offer about 125 feet of frontage, and have town utilities at the street. The available land appears sufficient for two single-family homes or two duplex buildings, subject to buyer due diligence and applicable approvals.
Key Highlights
- Six three‑bedroom apartment units
- Five units occupied by tenants of 8+ years
- One vacant, renovated unit ready to rent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,149
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,302,980
$1.3M
Cap Rate 7%
$930,700
$930.7K
Cap Rate 9%
$723,878
$723.9K
Market Conditions
NOI Build-Up for 5,538 SF
Gross rent
$121.6K $21.96/SF
− Vacancy
−$3.2K −$0.57/SF
EGI
$118.5K $21.39/SF
− OpEx
−$53.3K −$9.63/SF
NOI
$65.1K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,302,980
Cap Rate 7%
$930,700
Cap Rate 9%
$723,878
Alternative Uses
Best Use
Apartment 5plus
$930.7K
$814.4K – $1.09M
NOI $65,149 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,380 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
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?
Apartment building - Six three-bedroom apartments with established tenancy and an additional renovated unit available for lease.
Where is this apartment building located?
The property is located at 420 Kimball Fitchburg, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six three‑bedroom apartment units; Five units occupied by tenants of 8+ years; One vacant, renovated unit ready to rent
