Turnkey Four-Unit Residential
963 Main St Leicester, MA 01524
963 Main St, Leicester, MA, 01524
$900,000
For Sale
$900,000
Turnkey 4-unit property with individually metered utilities and fully renovated one- and two-bedroom layouts.
Property Size4,072 SF
Price / SF$221.02
Days on Market131
Property Features for 963 Main St
General Information
- Standard status
- Active
- Size
- 4,072 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1822
Listing agency
Coldwell Banker Realty - Brookline
(978) 578-5013
Listed by
Chris Bernier
(978) 578-5013
Source
Churchillprop
Added: Mar 13 Updated: Jul 20 at 7:34PM Checked: Jul 21 at 3:20AM
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 Coldwell Banker Realty - Brookline
Investment Insights
Based on property information with market context.
This turnkey four-unit residential income property offers a practical mix of one- and two-bedroom units. Public remarks indicate the units are fully renovated, with updated kitchens and baths, luxury vinyl plank and hardwood flooring, and new heat pump heating and cooling systems. Water and electric are individually metered. The property is described as having city water and city sewer.
Located at 963 Main St in Leicester, the property is described as minutes to downtown Worcester. Access is characterized as commuter friendly, with the asset positioned adjacent to a park and Leicester High School.
Operationally, the remarks state that tenants pay for utilities while the owner covers refuse removal, year-round grounds maintenance, and master insurance, supporting an owner-managed expense profile.
Located at 963 Main St in Leicester, the property is described as minutes to downtown Worcester. Access is characterized as commuter friendly, with the asset positioned adjacent to a park and Leicester High School.
Operationally, the remarks state that tenants pay for utilities while the owner covers refuse removal, year-round grounds maintenance, and master insurance, supporting an owner-managed expense profile.
Key Highlights
- Turnkey 4‑unit property (Year built 1822) with fully renovated one- and two‑bedroom layouts
- Updated kitchens and baths plus luxury vinyl plank and hardwood flooring throughout units
- Individually metered water and electric; tenants pay all utilities
Local 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 | $80.6k | $19.80 |
| − Vacancy | −$2.0k | −$0.49 |
| EGI | $78.6k | $19.31 |
| − OpEx | −$23.6k | −$5.79 |
| NOI | $55.0k | $13.52 |
4,072 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$786.3K
$688.1K – $917.4K
NOI $55,044 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$684.3K
$598.8K – $798.4K
NOI $47,903 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,337 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Washburn Square–Leicester Common ...
Tour Operator
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FAQs
What type of property is this?
Quadplex - Turnkey 4-unit property with individually metered utilities and fully renovated one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 963 Main St Leicester, MA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Turnkey 4‑unit property (Year built 1822) with fully renovated one- and two‑bedroom layouts; Updated kitchens and baths plus luxury vinyl plank and hardwood flooring throughout units; Individually metered water and electric; tenants pay all utilities
