3-Unit Multifamily
50 Chapel St, Leicester, MA 01611
For Sale
New
$834,900
All three residences are leased and share updated finishes, with major building improvements completed in 2025.
Property Size3,756 SF
Lot Size4.50 Acres
Price / SF$222.28
Days on Market2
Property Features for 50 Chapel St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Gross Income
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Laundry Room
Stone/Granite/Solid Counters
Bathroom With Tub
Kitchen
Living RM/Dining RM Combo
Building Details
Building Size
Year Built
Year Renovated
Stories
Units
Tenancy
Listing Agency:
One Way Realty
(508) 934-9862
Listed By:
Monique Oliveira
(774) 420-6174
Source:
Kimballproperty
Added: Nov 12
Last Checked: Nov 13 at 10:42AM
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 One Way Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,756-square-foot multifamily property contains three rental units, each with matching updated finishes. Renovation work completed in 2025 included HVAC systems, electrical and plumbing upgrades, replacement windows and siding, and a new driveway. The building dates to 1900, and all three units are currently rented.
The property occupies 4.5 acres at 50 Chapel St in Leicester, Massachusetts, approximately five minutes from Worcester. It is zoned R2.
The property occupies 4.5 acres at 50 Chapel St in Leicester, Massachusetts, approximately five minutes from Worcester. It is zoned R2.
Key Highlights
- Three units, all currently rented
- 4.5‑acre parcel
- 3,756‑square‑foot building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,772
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,440
$1.0M
Cap Rate 7%
$725,314
$725.3K
Cap Rate 9%
$564,133
$564.1K
Market Conditions
NOI Build-Up for 3,756 SF
Gross rent
$74.4K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$72.5K $19.31/SF
− OpEx
−$21.8K −$5.79/SF
NOI
$50.8K $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%
$1,015,440
Cap Rate 7%
$725,314
Cap Rate 9%
$564,133
Alternative Uses
Best Use
Multifamily LT 5
$725.3K
$634.7K – $846.2K
NOI $50,772 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$631.2K
$552.3K – $736.4K
NOI $44,185 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,783 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 01611, MA
2,277
Population
845
Households
2.7
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
670
Density / Sq Mi
$118,389
Median Household Income
$46,424
Median Earnings
$1,040
Median Rent
$306,400
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Worcester County, MA
Properties on Market for Triplexes in Worcester County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences are leased and share updated finishes, with major building improvements completed in 2025.
Where is this triplex located?
The property is located at 50 Chapel St Leicester, MA.
What is the asking price?
The asking price for this property is $834,900.
What are key features of this property?
This property features: Three units, all currently rented; 4.5‑acre parcel; 3,756‑square‑foot building
