54 Days on market
223 Mechanic St Leominster — Photo 1 of 39

223 Mechanic St Leominster — Photo 1 of 39

$800,000

223 Mechanic St, Leominster, MA 01453

Leominster, MA 01453

Beds

7

Baths

5

SqFt

4,278

Style

5+ Family - 5+ Units Up/Down

Built

1900

Exceptional Investment Opportunity! Well-maintained 5-unit income-producing property generating $7,656 per month in rental income. This attractive building is in great condition and offers investors immediate cash flow with strong rental potential. Situated on a corner lot in a convenient location just minutes from downtown, the property provides easy access to major highways and is located on a bus route. Tenants will appreciate the proximity to shopping, restaurants, churches, and the Mall at Whitney Field, making this a highly desirable rental location. Whether you're adding to an existing portfolio or purchasing your first multi-family investment, this property offers the combination of location, condition, and steady income that investors are looking for. Group showings Monday 8/17 from 11:15 to 12:15. Buyer agent must accompany buyer.

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$187/sqft
Local Avg (Leominster)$209/sqft
11% BelowMarket Average

* Analysis is based on 20 actively listed and recently sold comparable properties strictly within Leominster, MA.

Property Details

Financials

Original Price$800,000
Annual Taxes$8,154

Parking

Garage1
Off-Street6

Interior Specifications

Total Rooms19
FireplacesNone
FlooringVaries, Hardwood
BasementFull, Dirt Floor

Climate & Utilities

HeatingNatural Gas, Individual, Unit Control, Wall Unit
CoolingNone
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofTar/Gravel
FoundationStone
ZoningRC

Property & Lot

Acres0.11
SqFt Lot4,950
Lot FeaturesCorner Lot, Cleared

Amenities & Appliances

Range • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Medical Facility • Highway Access • House of Worship • Public School

Geography

Population

43,851

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$84K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

37.8%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Worcester County

1,805 housing units permitted in the last 12 months (+1% vs the prior 12 months) — 1,007 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jul '26)

Listing Provided By

Listing Agent: Paula Valente

Listing Office: Real Estate Exchange

MLS® Number: 73563586

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