42-44 Summer Street
Multifamily | 6 Units
Marketing description
Boston Realty Advisors is proud to present the exclusive opportunity to acquire 42-44 Summer Street in Leominster, MA. This 6-unit multifamily asset offers a diverse unit mix of one, two, and three-bedroom apartments, with the majority of units having been previously upgraded or fully renovated. The property includes at least one dedicated parking space per unit — a meaningful amenity in the Central Massachusetts market — and presents a compelling blend of stabilized, in-place income with a clear, defined value-add path through the renovation of the property's one remaining unrenovated unit.
Leominster is a growing city in North Central Massachusetts with strong residential rental fundamentals, bolstered by its convenient access to Route 2 and Interstate 190, proximity to Fitchburg and the broader Montachusett region, and a commuter rail connection to Boston via the Fitchburg/South Acton Line. The city's affordability relative to Greater Boston and improving employment base continue to drive renter demand and support healthy occupancy levels across the multifamily market.
Investment highlights
- Location & Connectivity: Leominster sits at the intersection of Routes 2 and 190, giving it strong highway access to Boston (~50 miles east), Worcester (~20 miles south), and New Hampshire. It's also served by MBTA Commuter Rail, making it accessible for commuters and businesses alike.
- Value-add Opportunity: Cosmetic upgrades have been completed in a variety of units with opportunity remaining to complete further upgrades driving rent growth.
- Healthcare & Anchor Institutions: UMass Memorial Health – HealthAlliance Hospital anchors healthcare employment and investment in the area, with ongoing capital investment in facilities and services.
- Diverse Unit Mix: The property consists of a healthy mix of 1, 2, and 3 bedroom layouts, and the property offers about ~1 parking space per unit.
- Most of the available apartments have been previously upgraded or fully renovated, limiting near-term capital expenditure requirements for the new owner.
- MBTA Commuter Rail Access via the Fitchburg Line — connecting Leominster residents to Boston South Station, expanding the effective tenant pool.
- Direct access to Route 2 and Interstate 190, connecting residents to Worcester, Boston, and the broader region.
- One unrenovated unit provides a clear, low-risk path to achieve premium market rents following a targeted renovation.
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