113 Spruce St - Apartments FOR SALE


Leominster, MA 01453- Outer Fitchburg/Leominster
$937,500 USD
617-896-7209
113 Spruce St, Leominster, MA for Sale
$937,500 USD
Apartments - FOR SALE
1/13
null | 8.01% Cap Rate

113 Spruce St
Leominster, MA 01453
Outer Fitchburg/Leominster


HIGHLIGHTS

  • Offered at $937,500, an in-place NOI of $75,000 results in a going in cap rate of 8.01% and 10.44% Cash-On-Cash Return at standard financing terms

OVERVIEW

Marcus & Millichap is pleased to present 113 Spruce Street in Leominster, Massachusetts — a six-unit multifamily asset consisting of three one-bedroom units and three two-bedroom units. The property provides off-street parking for every unit, along with an on-site laundry room. Situated on a corner lot at Spruce St and Wells Court in Leominster's Frenchville neighborhood, the property overlooks Mechanic Street Park. Tenants benefit from excellent connectivity and proximity to major demand drivers: the MBTA Fitchburg Line is just a five minute drive (1.7 miles), providing commuter rail access to Boston; UMass Memorial Health Leominster is also a five minute drive away (1.7 miles); downtown Leominster is a short half-mile from the property; and the Mall at Whitney Field, home to national retailers, is also a five minute drive away (1.2 miles). This asset delivers day-one cash flow with no near-term capital expenditure requirements, making it ideal for income-focused investors seeking durable returns without a heavy value-add component. Leominster's gateway-city positioning, established industry and employment base, and Central Massachusetts' documented regional housing shortfall of 20,500 units by 2035 support sustained renter demand and strong occupancy — favorable fundamentals for both current cash-on-cash performance and future exit liquidity.

FOR SALE DETAILS

PRICE

$937,500 USD

PRICE/SF

$106 USD /SF

# OF UNITS

6

PRICE/UNIT

$156,250

CAP RATE

8.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,930 SF

ZONING

-

APN/PARCEL ID

LEOM-000042-000014

ASK ABOUT THIS PROPERTY

Connor SmithMarcus & MillichapMore Info
617-896-7209

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Connor SmithMarcus & MillichapMore Info
617-896-7209

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.