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$ 950,000
Est. payment /mo
Price Dropped by $50K
3 Chelsea St Worcester, MA 01610
9 Beds
7 Baths
3,652 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,652 sqft
Price per Sqft $260
MLS Listing ID 73516009
Bedrooms 9
Full Baths 7
Year Built 1887
Annual Tax Amount $9,771
Tax Year 2026
Lot Size 9,147 Sqft
Acres 0.21
Property Sub-Type 5-9 Family
Property Description
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.
Location
State MA
County Worcester
Zoning RG-5
Direction Use GPS
Exterior
Garage Spaces 5.0
Total Parking Spaces 15
Garage Yes
Building
Story 5
Foundation Stone
Sewer Public Sewer
Water Public
Others
Senior Community false
Listed by Horvath & Tremblay