Triplex with Four
For Sale
$725,000
8-10 Pleasant Street, Leicester, MA 01524
Three apartments on a large paved lot with four garages, brick exterior, town water and sewer, and newer heating upgrades.
Property Size3,668 SF
Price / SF$197.66
Days on Market144
Property Features for 8-10 Pleasant Street
General Information
Standard status
Active
Size
3,668 SF
Total Parking Spaces
16
Property subtype
Multi-Family
Zoning
CB
Net Operating Income
$44,400
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,136
Building Details
Building Size
3,668 SF
Year Built
1850
Stories
4
Tenancy
Multi
Listing Agency:
ERA Key Realty Services- Spenc
(508) 885-6336
Listed By:
Darlene Eager
(508) 892-1510
Source:
Churchillprop
Added: May 29
Changed: Oct 6
Last Checked: Oct 16 at 7:10AM
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 ERA Key Realty Services- Spenc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This triplex property features three residential apartments within a brick exterior, including two single-story units and a townhouse-style unit that feels like single-family living. The townhouse includes a full basement and there is an oversized walk-up attic that offers expansion options. A total of four garages support convenient on-site parking on a large paved lot.
Set in the center of town at the intersection of Rt 56 and Rt 9 within the business zone, the property offers straightforward access in a highly visible area.
The home is serviced by town water and sewer. Two new gas heating systems and hot water tanks have been installed, and a third furnace is oil, approximately 7 years old, with a new oil tank. Electrical service includes circuit breakers with four meters. There are no leases, and one unit can be vacant at transfer for an owner occupant. The current rents are not market value due to family.
Set in the center of town at the intersection of Rt 56 and Rt 9 within the business zone, the property offers straightforward access in a highly visible area.
The home is serviced by town water and sewer. Two new gas heating systems and hot water tanks have been installed, and a third furnace is oil, approximately 7 years old, with a new oil tank. Electrical service includes circuit breakers with four meters. There are no leases, and one unit can be vacant at transfer for an owner occupant. The current rents are not market value due to family.
Key Highlights
- Center of town location at Routes 56 and 9 in the business zone
- Historic brick exterior home built in 1850, currently configured as three residential apartments
- Large paved lot with lots of parking plus 4 garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,583
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$991,660
$991.7K
Cap Rate 7%
$708,329
$708.3K
Cap Rate 9%
$550,922
$550.9K
Market Conditions
NOI Build-Up for 3,668 SF
Gross rent
$72.6K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$70.8K $19.31/SF
− OpEx
−$21.2K −$5.79/SF
NOI
$49.6K $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%
$991,660
Cap Rate 7%
$708,329
Cap Rate 9%
$550,922
Alternative Uses
Best Use
Multifamily LT 5
$708.3K
$619.8K – $826.4K
NOI $49,583 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$616.4K
$539.4K – $719.2K
NOI $43,150 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,680 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 01524, MA
6,621
Population
2,448
Households
2.7
Avg Household Size
43
Median Age
31%
College-Educated
91%
High-School Grad
15.9 sq mi
ZIP Area
416
Density / Sq Mi
$93,191
Median Household Income
$52,881
Median Earnings
$1,055
Median Rent
$390,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments on a large paved lot with four garages, brick exterior, town water and sewer, and newer heating upgrades.
Where is this triplex located?
The property is located at 8-10 Pleasant Street Leicester, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Center of town location at Routes 56 and 9 in the business zone; Historic brick exterior home built in 1850, currently configured as three residential apartments; Large paved lot with lots of parking plus 4 garages
