Renovated Three-Unit Multifamily
For Sale
$509,000
815-819 River St, Fitchburg, MA 01420
Three leased apartments offer updated interiors and varied bedroom configurations within a classic frame building.
Property Size2,972 SF
Price / SF$171.27
Days on Market214
Property Features for 815-819 River St
General Information
Standard status
Active
Size
2,972 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
RB
Occupancy
100%
Net Operating Income
$37,200
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,719
Building Details
Building Size
2,972 SF
Year Built
1860
Stories
4
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(508) 834-1500
Listed By:
James Xarras · License #9579466
(978) 870-7412
Source:
Churchillprop
Added: Mar 17
Changed: Oct 6
Last Checked: Oct 16 at 5:53AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
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 three-unit multifamily property contains 2,972 square feet and has undergone recent renovation. The unit mix includes a two-level apartment with three bedrooms, a second two-level residence with two bedrooms, and a one-bedroom apartment with living, dining, and kitchen areas. Interior amenities include vinyl finishes, ranges, microwaves, refrigerators, washer/dryer equipment, full bathrooms, and window AC. The building has a frame structure with shingle exterior materials and was built in 1860.
All three units are currently leased. Located at 815-819 River Street in Fitchburg, Massachusetts, the property is identified as RB zoning. The configuration provides distinct residential layouts within one multifamily asset, with living, dining, and kitchen areas represented across the units.
All three units are currently leased. Located at 815-819 River Street in Fitchburg, Massachusetts, the property is identified as RB zoning. The configuration provides distinct residential layouts within one multifamily asset, with living, dining, and kitchen areas represented across the units.
Key Highlights
- 2,972‑square‑foot triplex with three residential units
- All units are currently leased
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,174
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,480
$803.5K
Cap Rate 7%
$573,914
$573.9K
Cap Rate 9%
$446,378
$446.4K
Market Conditions
NOI Build-Up for 2,972 SF
Gross rent
$58.8K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$57.4K $19.31/SF
− OpEx
−$17.2K −$5.79/SF
NOI
$40.2K $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%
$803,480
Cap Rate 7%
$573,914
Cap Rate 9%
$446,378
Alternative Uses
Best Use
Multifamily LT 5
$573.9K
$502.2K – $669.6K
NOI $40,174 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$499.5K
$437.0K – $582.7K
NOI $34,963 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$1.01M
$888.0K – $1.18M
NOI $71,043 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
113
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
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments offer updated interiors and varied bedroom configurations within a classic frame building.
Where is this triplex located?
The property is located at 815-819 River St Fitchburg, MA.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: 2,972‑square‑foot triplex with three residential units; All units are currently leased; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
