80-84 Columbus St Fitchburg MA 01420

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80-84 Columbus St Fitchburg MA 01420

Mindaugas Maciulis

Member since 2021 · 4 posts · 4 votes

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Fitchburg.

Purchase price: $487,000
Cash invested: $140,000

4-plex, Three 3 BD units and one 2 BD unit, plus a garage and 8 parking spots

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Andrew FreedBusiness Member

Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes

@Mindaugas Maciulis - Looks like a solid investment. It seems like the previous owner maintained it well. In addition, to have parking with a multi is extremely important for tenant retention. Smart buy!

What sort of rents are you getting out there? Are you planning on renting to section 8?

[email protected]781-964-3200 Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money

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Marc RiceBusiness Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
5y
@Mindaugas Maciulis
Nice! I grew up out in Westport. I’ve heard good things about Fitchburg
[email protected]614-363-2787
Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
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Mindaugas Maciulis
OP
Member since 2021 · 4 posts · 4 votes
5y
Thanks Marc! It's definitely improving and it's still a great market to find good investment opportunities
1 Reply
Jonathan BombaciBusiness Member
Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
5y
Fitchburg has been on the up and up for a while. Nice 4plex!
[email protected]978-710-8611
Candor Realty4.760 Reviews
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Mindaugas Maciulis
OP
Member since 2021 · 4 posts · 4 votes
5y
Thanks @Jonathan Bombaci
0 Reply
Andrew FreedBusiness Member
Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
5y
@Mindaugas Maciulis - Looks like a solid investment. It seems like the previous owner maintained it well. In addition, to have parking with a multi is extremely important for tenant retention. Smart buy!
What sort of rents are you getting out there? Are you planning on renting to section 8?
[email protected]781-964-3200 Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
2 Reply
Mindaugas Maciulis
OP
Member since 2021 · 4 posts · 4 votes
5y
Thanks @Andrew Freed The rents for 3BD range 1200-1600 in the area. 2BD - 900-1200. Definitely open to renting to Section 8.
0 Reply
Andrew FreedBusiness Member
Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
5y
@Mindaugas Maciulis - Nice, I've personally never dealt with section 8, but I do see a lot of investors utilizing this, especially among multi-families. See if you can rent the garage for $100 or $200 a month. Add to that cash flow!
[email protected]781-964-3200 Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
1 Reply
Jason Regan
Investor · Leominster Ma · Member since 2019 · 305 posts · 162 votes
5y
Thats nice! Based on how rental prices have been soaring up in Fitchburg; it makes me wish I have more then 1
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