Corner Lot Multifamily
51 Pleasant Leominster, MA 01453
51 Pleasant, Leominster, MA, 01453
$1,650,000
For Sale
$1,650,000
Six-unit corner lot with three 3-bedroom units and three 1-bedroom units; tenant-paid utilities and 100-amp electric service per unit.
Property Size5,226 SF
Price / SF$315.73
Days on Market161
Property Features for 51 Pleasant
General Information
- Standard status
- Active
- Size
- 5,226 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Yannios R E Investment Sales
Listed by
James Yannios
(617) 750-6378
Source
Benoitrealestate
Added: Feb 10 Updated: Jul 21 at 3:02PM Checked: Jul 21 at 3:02PM
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 Yannios R E Investment Sales
Investment Insights
Based on property information with market context.
This corner lot multifamily building features six rental units total, arranged as three 3-bedroom units and three 1-bedroom units. The units are described as being in good condition, with two units recently updated. Tenant-paid utilities help support operating structure, and each unit is serviced with 100-amp electric service.
The property is set on a corner lot at 51 Pleasant in Leominster, Massachusetts.
Unit configuration is a mix of larger and smaller layouts, with 3-bedroom and 1-bedroom units distributed across the building.
The property is set on a corner lot at 51 Pleasant in Leominster, Massachusetts.
Unit configuration is a mix of larger and smaller layouts, with 3-bedroom and 1-bedroom units distributed across the building.
Key Highlights
- Six‑unit corner lot building with three 3‑bedroom units and three 1‑bedroom units
- 1900 construction year
- Tenant‑paid utilities
Local Financial Insights For Apartment 5plus
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 | $114.8k | $21.96 |
| − Vacancy | −$3.0k | −$0.57 |
| EGI | $111.8k | $21.39 |
| − OpEx | −$50.3k | −$9.63 |
| NOI | $61.5k | $11.76 |
5,226 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$878.3K
$768.5K – $1.02M
NOI $61,479 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,922 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit corner lot with three 3-bedroom units and three 1-bedroom units; tenant-paid utilities and 100-amp electric service per unit.
Where is this apartment building located?
The property is located at 51 Pleasant Leominster, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six‑unit corner lot building with three 3‑bedroom units and three 1‑bedroom units; 1900 construction year; Tenant‑paid utilities
