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465-473 Water St, Fitchburg MA 01420

$775,000

Estimated $1,857.41/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $129,166.67

Total Rent: 62160/year

Estimated CAP Rate: 5.82%

13 Bedrooms

6 Full Baths

6,047 SqFt

Total Parking: 10

5,899 SqFt

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 465-473 Water Street in Fitchburg, Massachusetts (the “Property”). The four-story building contains six residential units consisting of five (5), 2-Bedroom/1-Bathroom units and one (1), 3-Bedroom/1-Bathroom unit with 6,047 square feet of living space in 9,474 square feet of gross area on a 0.14-acre parcel. Each unit is separately metered for electricity, heat, and hot water which the tenants pay directly. The Landlord is responsible for domestic water and sewer and common area electric. The in-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.Downtown Fitchburg is a densely developed, mixed use neighborhood centered around Main Street, the Nashua River and the MBTA rail station.

This home has been viewed 30 times

Last Checked: May 7th, 2024 at 8:16am (Source: MLS PIN #73086393)

Gross Income: $62,160

Gross Expenses: $17,024

Net Income Calc: $45,136

CAP Rate: 5.82%

Annual Expenses for 465-473 Water St, Fitchburg MA 01420

Total Gross Expenses (Calculated)$17,024/year

APOD AvailableYes

Heating

Electricity$240

Water$5,040

Gas$5,040

Insurance$4,535

Sewer$5,040

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$7,209

Annual Income & Unit Breakdown for 465-473 Water St, Fitchburg MA 01420

Total Gross Income (Calculated)$62,160

Unit 1

Rental Income$1,350

LeaseY

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 2

Rental Income$1,290

LeaseY

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingNo

Rent Includes

Unit 3

Rental Income$1,250

LeaseY

Bedrooms2

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingNo

Rent Includes

Unit 4

Rental Income$1,290

LeaseY

Bedrooms2

Bathrooms1 Full

Floor3

Levels in Unit1

HeatingNo

Rent Includes

General Information for 465-473 Water St, Fitchburg MA 01420

Listing ID73086393

Property TypeMulti Family / 5+ Family

Price$775,000 ($128.16/SqFt)

Style5-9 Family

CityFitchburg

CountyWorcester

MLS Area

Neighborhood(s)

Approximate Living Area Total6,047 SqFt

Approximate Lot Size (Acres)0.14 acres

Total Parking10

Garage Parking

Year Built1900

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot Features

Foundation Area

Foundation DescriptionConcrete Perimeter,Stone

Accessible Features

Outdoor Space

ZoningNB

Zoning Details

Water Views

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 465-473 Water St, Fitchburg MA 01420

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$9,815

Total Gross Income By Broker$75,120

Total Net Income By Broker$65,305

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnGross/full Sale Price

Financial Information for 465-473 Water St, Fitchburg MA 01420

Real Estate Taxes$7,209

Tax Year2023

Assessed Value$450,000

Financial Data Source

Total Gross Expenses By Broker$9,815

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$75,120

BostonRealEstate.com Gross Income

Total Net Income By Broker$65,305

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)5.82%

Location Information for 465-473 Water St, Fitchburg MA 01420

Elementary School

Middle School

High School

Neighborhood(s)

MLS Area

Area Amenities

Contact Information for 465-473 Water St, Fitchburg MA 01420

Agent

Name: Ryan Benton

Office

Name: Horvath & Tremblay

Phone: 781-776-4000

Team Members

Name: Spencer Norton

Phone: 781-776-4524

Payment Calculator

, Interest

Property Taxes 600.75

Principal & Interest 4775.3

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Horvath & Tremblay

Ryan Benton

Agent Phone

Office Phone

(781) 776-4000

Text Agent Call Agent Call Office

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    [description] => Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 465-473 Water Street in Fitchburg,  Massachusetts (the “Property”). The four-story building contains six residential units consisting of five (5), 2-Bedroom/1-Bathroom units and one (1), 3-Bedroom/1-Bathroom unit with 6,047 square feet of living space in 9,474 square feet of gross area on a 0.14-acre parcel. Each unit is separately metered for electricity, heat, and hot water which the tenants pay directly. The Landlord is responsible for domestic water and sewer and common area electric. The in-place leases are significantly below market rates; the opportunity exists to upgrade the unrenovated unit interiors to drive rental rates in an urban-infill, high demand/supply-constrained residential market.Downtown Fitchburg is a densely developed, mixed use neighborhood centered around Main Street, the Nashua River and the MBTA rail station.
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EXIT

Closed

465-473 Water St, Fitchburg MA 01420

$775,000

Annual Expenses for 465-473 Water St, Fitchburg MA 01420

Annual Income & Unit Breakdown for 465-473 Water St, Fitchburg MA 01420

General Information for 465-473 Water St, Fitchburg MA 01420

Disclosures for 465-473 Water St, Fitchburg MA 01420

Financial Information for 465-473 Water St, Fitchburg MA 01420

Location Information for 465-473 Water St, Fitchburg MA 01420

Contact Information for 465-473 Water St, Fitchburg MA 01420

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Horvath & Tremblay

Ryan Benton