Price Reduced 5.00%

$950,000 ($260.13 per sqft)

Pending

Est. Mortgage $4,557/mo *

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3 Chelsea St, Worcester, MA, 01610

3 Chelsea St, Worcester, MA, 01610
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21 rooms

9 beds

7 Full baths

1887

3,652 sqft

This well located 7-unit property at 3 Chelsea St in Worcester, Massachusetts, consists of four studio apartments and two 2-bedroom/1-bathroom units on a 0.21-acre parcel. Each unit is separately metered for heat and electricity, and the owner is responsible for hot water and municipal water & sewer. The property also features two sources of parking income. The five front garage bays are rented to one operator for $700/month and there is a large contractor garage behind the property rented for $750/month. The property also features a new roof. There is an opportunity to dramatically increase rents through systematic improvements to unit interiors. Additionally, the property is situated just .3 miles from the College of Holy Cross. Listed at a 8.21% cap rate at $135,714 per unit, this property represents a strong investment opportunity in the growing Worcester market.

Status:

Pending

Type:

Multi-family

Units:

7

Zoning:

RG-5

Garage:

5-car

Levels:

5

Parking:

10-car, Paved Drive, Off Street

Acreage:

0.21

Est. Taxes:

$9,771

Assessment

$710,600

MLS #:

73516009

Community Info

School Info

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Listing courtesy of Ethan Lazar, Horvath & Tremblay 781-776-4000