264 Mechanic St Leominster — Photo 1 of 19
$799,000
Investment Analysis — 264 Mechanic St
Leominster, MA 01453
Based on rent reported on the MLS listing, a 4-unit multi-family in 01453 carries $6,075/mo in gross rent — about a 6.13% cap rate and $48,946/yr in estimated NOI at the $799,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
3.5
SqFt
3,480
Style
4 Family
Built
1989
Great Investment Opportunity in a Highly Desirable and Convenient Location! This versatile mixed-use property offers excellent income potential, featuring a commercial storefront plus three 1-bedroom apartments, all updated with modern kitchens and bathrooms. Each unit provides two means of egress, adding functionality and flexibility. With tenants responsible for their own heat, hot water, and electricity, operating expenses are minimized, while the owner is responsible only for city water. An exceptional added value is the approximately 50' x 35' detached garage, zoned for both residential and commercial use, creating significant additional income and development potential. Ideal for vehicle or boat storage, contractor space, warehouse use, or other permitted commercial opportunities. With multiple income streams, strong rental potential, and endless possibilities for future use, this property presents a rare opportunity for investors seeking both immediate income and long-term upside.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Geography
Listing Agent: Rodrigo Azevedo
Listing Office: Pablo Maia Realty
MLS® Number: 73566244