44 Winter St, Fitchburg, MA 01420
- $1,229,000
- 8
- BD
- 7
- BA
- 4,188
- SqFt
Listing courtesy of Listing Agent: James Glickman from Listing Office: NAI Glickman Kovago & Jacobs.
- List Price
- $1,229,000
- Status
- ACTIVE
- Days on Market
- 96
- Price Change
- ▼ $46,000 1784173554
- MLS#
- 73511393
- Subtype
- Residential Income
- Year Built
- 1920
- Bedrooms
- 8
- Bathrooms
- 7
- Full Baths
- 7
- Living Area
- 4,188
- Lot Size
- 21,819
- Acres
- 0.50
Property Description
7.10% CAP IN PLACE | ~8.00% PRO FORMA. Seven units, 100% occupied, no capital work needed.44 Winter Street delivers what most Fitchburg multifamily can't: current income at a 7.10% cap with no deferred maintenance waiting on the other side of closing. The property has been systematically reinvested in, and an incoming buyer inherits the benefit. Completed capital improvements include full electrical upgrade with individual panels and meters, heating system replacements in most units, a renovated laundry room, new garage roof and door, upgraded exterior egress and emergency lighting, and comprehensive landscaping. Most units are individually gas metered, with separation infrastructure already in place at the remainder requiring only final connection. Unit mix is six one-bedrooms and one two-bedroom. Five are fully renovated; the remaining two are in strong condition. In-place gross income is $121,200. Two units are tenant-at-will, giving a new owner the ability to take rents to market immediately rather than waiting on lease expirations. Fourteen off-street parking spaces, two per unit, on a large lot, plus a garage available for supplemental income. Parking at that ratio is genuinely scarce in this submarket and it shows up in both tenant retention and rent achievability. Turnkey and priced for an investor who wants an excellent addition to their portfolio.
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Additional Information
- Interior Features
- Living Room, Kitchen
- Taxes
- $7,191
- Zoning
- RC
- Flooring
- Vinyl, Hardwood
- Appliances
- Range, Refrigerator
- Heating
- Natural Gas, Floor Furnace
- Air Conditioning
- Window Unit(s)
- Exterior Features
- Frame
- Stories
- 5
- Levels
- 5
- Foundation
- Concrete Perimeter, Stone
- Parking Features
- Off Street, Deeded
- Garage Spaces
- 2
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