Four-Unit Residential Income
For Sale
$719,999
62-A/D Grove St, Fitchburg, MA 01420
Well-maintained four-unit property offers separately metered heat and electricity for each residence.
Property Size3,542 SF
Price / SF$203.27
Days on Market9
Property Features for 62-A/D Grove St
General Information
Standard status
Active
Size
3,542 SF
Property subtype
4 Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Be Live in Realty
(617) 460-9893
Listed By:
Lia Carminati
(617) 460-9893
Source:
Lockandkeyre
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 30 at 5:26AM
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 Be Live in Realty
Investment Insights
Based on property information with market context.
This well-maintained four-unit residential income property features four versatile apartments: one spacious bi-level 4-bedroom, 1-bath unit, two 2-bedroom, 1-bath units, and one 1-bedroom, 1-bath unit. Each unit has separately metered heat and electricity, supporting individual utility control.
The property is located just minutes from downtown Fitchburg and is about a 4-minute drive to Fitchburg State University.
All units are currently vacant, providing flexibility for immediate leasing or owner occupancy.
The property is located just minutes from downtown Fitchburg and is about a 4-minute drive to Fitchburg State University.
All units are currently vacant, providing flexibility for immediate leasing or owner occupancy.
Key Highlights
- Four‑unit multi‑family with one bi‑level 4‑bedroom/1‑bath unit plus two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- Each unit has separately metered heat and electricity
- All units are vacant, offering immediate leasing or owner occupancy
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 | $70.1k | $19.80 |
| − Vacancy | −$1.7k | −$0.49 |
| EGI | $68.4k | $19.31 |
| − OpEx | −$20.5k | −$5.79 |
| NOI | $47.9k | $13.52 |
3,542 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$684.0K
$598.5K – $798.0K
NOI $47,880 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,668 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,668 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
813
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit property offers separately metered heat and electricity for each residence.
Where is this quadplex located?
The property is located at 62-A/D Grove St Fitchburg, MA.
What is the asking price?
The asking price for this property is $719,999.
What are key features of this property?
This property features: Four‑unit multi‑family with one bi‑level 4‑bedroom/1‑bath unit plus two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; Each unit has separately metered heat and electricity; All units are vacant, offering immediate leasing or owner occupancy
