44 Winter St 7 Unit Apartment Building $1,275,000 ($182,143/Unit) 6.70% Cap Rate Fitchburg, MA 01420

The property consists of six one-bedroom units and one two-bedroom unit, with five of seven units fully renovated. The current ownership has completed an extensive capital improvement program over the past four years, leaving an incoming investor with a well-maintained, modernized asset and significantly reduced near-term capital requirements.
Improvements completed include a full electrical infrastructure upgrade with individual panels and meters for each unit, replacement of heating systems in the majority of units, a renovated laundry room, garage roof and door replacement, upgraded exterior egress and emergency lighting throughout, and comprehensive exterior and landscaping work. A full capital expenditure schedule is available upon request.
The majority of units are individually gas metered, with the remaining units having separation infrastructure in place requiring only final connection. The in-place rent roll provides stable current income with meaningful upside remaining. Two units are tenancy-at-will, offering an incoming owner early opportunity to bring rents to market.
The property includes 14 off-street parking spaces, two per unit, along with an additional garage offering supplemental rental income potential.
— Additional garage with rental income potential
— Laundry income in place
— 2 tenancy-at-will units with near-term rent upside
— MBTA commuter rail access nearby
— Walking distance to downtown Fitchburg