Four-Unit Residential Income
For Sale
$719,999
62-a/d Grove Street, Fitchburg, MA 01420
Four well-maintained units include bi-level 4-bedroom and three additional 2-bedroom and 1-bedroom apartments.
Property Size3,542 SF
Price / SF$203.27
Days on Market11
Property Features for 62-a/d Grove Street
General Information
Standard status
Active
Size
3,542 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
Be Live in Realty
Listed By:
Lia Carminati
(617) 262-6200
Source:
Cabotandcompany
Added: Jul 20
Changed: Jul 26
Last Checked: Jul 30 at 6:09PM
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 multi-family property features four versatile residential units. The layout includes a spacious bi-level 4-bedroom, 1-bath apartment, two 2-bedroom, 1-bath units, and a 1-bedroom, 1-bath unit, allowing flexible occupancy configurations for a new owner.
Each unit has separately metered heat and electricity, providing independent utility control. All units are currently vacant, which supports immediate leasing or owner occupancy.
The property is positioned just minutes from downtown Fitchburg and is approximately a 4-minute drive to Fitchburg State University, supporting demand from a steady tenant base.
Each unit has separately metered heat and electricity, providing independent utility control. All units are currently vacant, which supports immediate leasing or owner occupancy.
The property is positioned just minutes from downtown Fitchburg and is approximately a 4-minute drive to Fitchburg State University, supporting demand from a steady tenant base.
Key Highlights
- Four‑unit multi‑family building with a bi‑level 4‑bedroom, 1‑bath apartment plus three additional 1‑bed/1‑bath and 2‑bed/1‑bath units
- Separately metered heat and electricity for each unit
- 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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four well-maintained units include bi-level 4-bedroom and three additional 2-bedroom and 1-bedroom apartments.
Where is this quadplex located?
The property is located at 62-a/d Grove Street 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 building with a bi‑level 4‑bedroom, 1‑bath apartment plus three additional 1‑bed/1‑bath and 2‑bed/1‑bath units; Separately metered heat and electricity for each unit; All units are vacant, offering immediate leasing or owner occupancy
