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113 Spruce St
Leominster, MA 01453 Outer Fitchburg/Leominster

$899,000 USD

Apartments For Sale  •  4,917 SF

Property Details

  • Property Type Apartments
  • Total Building Size 4,917 SF
  • Lot Size 0.16 AC
  • Building Class C
  • Year Built 1900
30 Transit Score
60 Walk Score

Highlights

Offered at $937,500, an in-place NOI of $78,142 results in a going in cap rate of 8.34%.
11.76% Cash-On-Cash Return at standard financing terms (75% LTV, 6% IR, 10 Year Term, 30 Year Am)
Leominster is a designated Gateway City with deep manufacturing and life-science ties, more than 120 companies in Leominster.
Asset placed in a supply constrained market, Massachusetts State Executive Office of Housing states that Central MA needs to add 20,500 housing units.

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Tenant Controlled HVAC
  • Heating
  • Smoke Free
  • Kitchen
  • Oven
  • Sprinkler System
  • Range
  • Tub/Shower
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
North Leominster (Fitchburg Line - MBTA) 4 min - 1.7 mi
Fitchburg (Fitchburg Line - MBTA) 12 min - 6.2 mi
AirportDriveWalkDistance
Worcester Regional 39 min - 26.7 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 6
Type: Surface
Included in Rent: Yes
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