Three-Unit Residential Income
59 Church Street Leominster, MA 01453
For Sale
$685,000
Triplex includes two 3-bedroom units and one 1-bedroom unit, plus off-street parking and garages.
Property Size3,505 SF
Price / SF$195.44
Days on Market323
Property Features for 59 Church Street
General Information
- Standard status
- Active
- Size
- 3,505 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1910
Listing Agency:
Naples Realty Group
(413) 650-1314
Listed By:
The Merrill Group
(413) 650-1314
Source:
Compass
Added: Sep 4, 2025
Changed: Jul 23
Last Checked: Jul 23 at 10:46AM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This three-unit residential income property features three fully occupied apartments: two 3-bedroom/1-bath units and one 1-bedroom/1-bath unit. The seller notes value-add potential through the restoration of a previously legal basement unit that was lost to fire.
Recent updates reported by the seller since 2023 include bathroom renovations, electrical system and breaker work, exit systems, and thermostat installations on the first and second floors. Additional improvements include three new water heaters, updated plumbing, and a natural gas steam boiler.
The property also offers a large off-street parking lot and three garage spaces, supporting convenient tenant access and everyday usability.
Recent updates reported by the seller since 2023 include bathroom renovations, electrical system and breaker work, exit systems, and thermostat installations on the first and second floors. Additional improvements include three new water heaters, updated plumbing, and a natural gas steam boiler.
The property also offers a large off-street parking lot and three garage spaces, supporting convenient tenant access and everyday usability.
Key Highlights
- Multi‑unit triplex with two 3‑bedroom/1‑bath apartments and one 1‑bedroom/1‑bath unit, all currently fully occupied
- Walk‑out basement with potential to restore a previously legal basement unit lost to fire
- Updates since 2023 include 3 bathroom renovations, updated plumbing, and new water heaters (3)
Financial Insights For Multifamily LT 5
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 | $69.4k | $19.80 |
| − Vacancy | −$1.7k | −$0.49 |
| EGI | $67.7k | $19.31 |
| − OpEx | −$20.3k | −$5.79 |
| NOI | $47.4k | $13.52 |
3,505 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$676.8K
$592.2K – $789.7K
NOI $47,379 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$589.0K
$515.4K – $687.2K
NOI $41,233 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,784 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex includes two 3-bedroom units and one 1-bedroom unit, plus off-street parking and garages.
Where is this triplex located?
The property is located at 59 Church Street Leominster, MA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Multi‑unit triplex with two 3‑bedroom/1‑bath apartments and one 1‑bedroom/1‑bath unit, all currently fully occupied; Walk‑out basement with potential to restore a previously legal basement unit lost to fire; Updates since 2023 include 3 bathroom renovations, updated plumbing, and new water heaters (3)
