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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.

More Info

Basic Information

  • Gross Income $110,784
  • Mls StatusActive
  • Parcel Number M:0070 B:0007 L:0000

Tax Information

  • Tax Assessed Value $685,100
  • Tax Year 2025
  • Taxes$9,612

School Information

  • Elementary SchoolNorthwest Elementary School
  • High School Leominster Senior High School
  • Junior HighSky View Middle School

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street
  • Parking Spaces11

Rooms

  • Bathroom5
  • Bathrooms Total Decimal 5
  • Bedrooms9
  • Full Bath5

Basic Information

  • List Price$1,100,000
  • MLS Number73478773
  • Modification Date04/28/2026
  • Property SubType5+ Family - 5+ Units Up/Down

Location

  • Address54-56 North Main Street
  • Building Number54-56
  • CountyWorcester
  • StateMA
  • StreetNorth Main Street
  • TownLeominster
  • Zip01453

Building

  • BasementFull, Unfinished
  • Building Area Units Square Feet
  • Construction Materials Frame
  • FoundationStone
  • Levels 6
  • Rooms21
  • Stories6
  • Units5
  • Year Built1920
  • Year Built Details Actual
  • Year Built Source Public Records

Property

  • Acreage0.53

Interior

  • Interior Features Ceiling Fan(s), Bathroom With Tub & Shower, Bathroom with Shower Stall, Living Room, Kitchen

Exterior

  • RoofShingle

Utilities

  • Heat SystemYes
  • Heating Oil, Natural Gas
  • Sewer Public Sewer
  • Water Source Public

Property Information

  • Building Area Source Measured
  • Living Area 4,165
  • Lot Size Square Feet 22,986
  • Lot Size Units Acres
  • Square Feet4,165

Amenities

  • AmenitiesPublic Transportation, Park, Highway Access, Public School
  • Appliances IncludedRange, Microwave, Refrigerator, Dishwasher
  • Other AmenitiesBasement

Legal

  • ZoningRB

Other

  • Date Listed02/19/2026
  • Farm Land Area Units Square Feet
  • View Count6

Map Location

Driving Directions

Listed by Team Lillian Montalto of Lillian Montalto Signature Properties

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