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INVESTMENT SNAPSHOT
About this property
The property currently generates approximately $110,784 in gross annual rental income, offering strong in-place cash flow with upside through targeted improvements and operational efficiencies. This 5-unit multi-family investment at 54–56 North Main Street includes 9 bedrooms and 5 full baths across approximately 4,165 sq ft. Units feature a mix of 1- and 3-bedroom layouts, each with its own kitchen and full bath. Set on a 0.53-acre lot, the property offers 11 off-street parking spaces, a full unfinished basement for additional storage, and a durable vinyl exterior. Tenants are in place, providing immediate income. Conveniently located near downtown Leominster, shopping, dining, and major routes. Please see the attached Income & Expense Summary for full financial details. A solid opportunity for investors seeking a well-located, income-producing multi-family property with upside potential.
Property details
| Units | 5 |
| Living area | 4,165 sqft |
| Lot size | 22,986 sqft |
| Year built | 1920 |
| Price / sqft | $240 |
| County | Worcester |
| MLS # | 73478773 |
Listing status
| Days on market | 106 days |
| Listed on | February 19, 2026 |
Taxes & financials
| Annual property tax | $9,612 |
| Tax year | 2025 |
| Assessed value | $685,100 |
| Zoning | RB |
| Gross income (actual) | $110,784/yr |
| Net operating income (actual) | $88,528/yr |
| Total actual rent | $9,232/mo |
Building & lot
| Stories | 6 |
| Total rooms | 21 |
| Lot size | 0.53 acres |
| Garage spaces | 0 |
| Parking spaces | 11 |
| Parking | Paved Drive, Off Street |
| Basement | Full, Unfinished |
| Foundation | Stone |
| Roof | Shingle |
| Construction | Frame |
Utilities & systems
| Heating | Oil, Natural Gas |
| Cooling | None |
| Sewer | Public Sewer |
| Water | Public |
| Appliances | Range, Microwave, Refrigerator, Dishwasher |
Location
More about investing in Leominster →
Listing courtesy of Lillian Montalto Signature Properties — Team Lillian Montalto. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 54-56 North Main St, Leominster MA 01453 have?
It is a 5-unit multi-family property with 4,165 sqft of living area, built in 1920.
How long has 54-56 North Main St, Leominster MA 01453 been on the market?
54-56 North Main St, Leominster MA 01453 has been listed for 106 days (since February 19, 2026).
What is the estimated cap rate on this 5-family in Leominster?
Based on area median rents, the estimated cap rate is about 5.3%, with a Signal Score of 89/100. These are directional estimates, not an appraisal.
What is the price per unit?
At a list price of $999,500 across 5 units, that works out to roughly $199,900 per unit.
What are the property taxes on 54-56 North Main St, Leominster MA 01453?
Annual property taxes are $9,612 (2025), on an assessed value of $685,100.
What is the price per square foot?
At $999,500 for 4,165 sqft, that's about $240 per square foot.
Is there parking?
11 total parking spaces (paved drive, off street).
Where is this property located?
54-56 North Main St, Leominster MA 01453 is in Leominster, Worcester County, MA 01453.
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