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21 Winthrop St - 21 Winthrop Street, Fitchburg MA 3 Unit Apartment Building Offered at $725,000 at a 8.80% Cap Rate Fitchburg, MA 01420
INVESTMENT HIGHLIGHTS
- Southside Fitchburg Location
- 3BR & 4BR apartments
- $64,000 NOI with the potential for $72,000
- $6,300 monthly revenue with potential for $7,000
- Renovated Kitchens and Bathrooms
- 8.8% cap rate with the potential for 10%
EXECUTIVE SUMMARY
This Southside Fitchburg investment property offers a $6,300 monthly revenue with the
potential for $7,000. The property consists of a three-story, wood-frame building containing
one 4BR apartment and two 3BR apartments. The apartments are bright with renovated
kitchens and bathrooms, and a combination of hardwood and laminate flooring. The in-
place NOI is approximately $64,000 with the potential for $72,000, and the cap rate is 8.8%
with the potential to build to 10%. Located steps from the Laurel Hill Cemetery, and nearby
to Howarth Park, the Fitchburg Public Library, Fitchburg Riverfront Park, Fitchburg City Hall,
Fitchburg District Court, and other downtown municipal buildings and departments, the
property offers immediate access to Massachusetts Routes 12, 31 and 2A, and is 2 and 5 miles,
respectively, to major highways Mass Route 2, and I-190. The property is located nearby to
area hospitals - approximately 1.5 miles to HealthAlliance-Clinton Hospital Fitchburg
Campus - and area colleges and universities. The property is under 1 mile from Fitchburg
State University and approximately 1.5 miles to Mount Wachusett Community College
(MWCC) Fitchburg campus. Within a 40 minute drive-time of Worcester and Worcester-area
colleges and universities, the property is situated within a 25-mile radius of 11 colleges and
universities. Fitchburg is home to major employers including Fitchburg State University and
HealthAlliance Hospital, Market Basket, and Georgia-Pacific. The primary public transit
connection from Fitchburg to Boston is the MBTA Fitchburg Line Commuter Rail, which
runs directly from Wachusett Station to Boston’s North Station. The route takes about 1 hour
30 minutes, with multiple departures offered throughout the day. Worcester Regional
Airport in Worcester is approximately 30 miles south, offering regional and national air
service. The Worcester MA MSA has a population of over 880,000, and Worcester is the
second largest city in Massachusetts.
potential for $7,000. The property consists of a three-story, wood-frame building containing
one 4BR apartment and two 3BR apartments. The apartments are bright with renovated
kitchens and bathrooms, and a combination of hardwood and laminate flooring. The in-
place NOI is approximately $64,000 with the potential for $72,000, and the cap rate is 8.8%
with the potential to build to 10%. Located steps from the Laurel Hill Cemetery, and nearby
to Howarth Park, the Fitchburg Public Library, Fitchburg Riverfront Park, Fitchburg City Hall,
Fitchburg District Court, and other downtown municipal buildings and departments, the
property offers immediate access to Massachusetts Routes 12, 31 and 2A, and is 2 and 5 miles,
respectively, to major highways Mass Route 2, and I-190. The property is located nearby to
area hospitals - approximately 1.5 miles to HealthAlliance-Clinton Hospital Fitchburg
Campus - and area colleges and universities. The property is under 1 mile from Fitchburg
State University and approximately 1.5 miles to Mount Wachusett Community College
(MWCC) Fitchburg campus. Within a 40 minute drive-time of Worcester and Worcester-area
colleges and universities, the property is situated within a 25-mile radius of 11 colleges and
universities. Fitchburg is home to major employers including Fitchburg State University and
HealthAlliance Hospital, Market Basket, and Georgia-Pacific. The primary public transit
connection from Fitchburg to Boston is the MBTA Fitchburg Line Commuter Rail, which
runs directly from Wachusett Station to Boston’s North Station. The route takes about 1 hour
30 minutes, with multiple departures offered throughout the day. Worcester Regional
Airport in Worcester is approximately 30 miles south, offering regional and national air
service. The Worcester MA MSA has a population of over 880,000, and Worcester is the
second largest city in Massachusetts.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $725,000 | Property Type | Multifamily |
| Price Per Unit | $241,667 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 6,382 SF |
| Cap Rate | 8.80% | No. Stories | 3 |
| Gross Rent Multiplier | 9.59 | Year Built | 1900 |
| No. Units | 3 | Opportunity Zone |
Yes
|
| Price | $725,000 |
| Price Per Unit | $241,667 |
| Sale Type | Investment |
| Cap Rate | 8.80% |
| Gross Rent Multiplier | 9.59 |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.12 AC |
| Building Size | 6,382 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+1 | 1 | $2,350 | - |
| 3+1 | 2 | $2,250 | - |
1 1
Walk Score®
Very Walkable (75)
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21 Winthrop St - 21 Winthrop Street, Fitchburg MA
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