Building Details

Year Built 1900

Buildings 2

Listing Agency: Lamacchia Realty,Inc.

Listed By: Maribeth Marzeotti · License #453010951 Show Phone

Source: Sarkisboston

Added: Oct 2 Changed: Oct 16 Last Checked: Oct 16 at 9:25AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lamacchia Realty,Inc.

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Investment Insights

Based on property information with market context.

Two apartment buildings contain seven units across a combined 5,970 square feet on 0.68 acres. The property was built in 1900. One building has two apartments; the other contains five, including a three-bedroom unit and additional one- and two-bedroom layouts. Flooring has been replaced throughout, and each apartment is equipped with a gas stove and refrigerator.

The site includes off-street parking and a two-car garage. Schools, restaurants, and shopping are nearby, with highway access from the surrounding area.

Key Highlights

• Seven apartments across two neighboring buildings on 0.68 acres
• 5,970 square feet of building area; built in 1900
• Unit mix includes one 3‑bedroom apartment and one- and two‑bedroom units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,700

Cap Rate

8.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,614,000 $1.6M

Cap Rate 7%

$1,152,857 $1.2M

Cap Rate 9%

$896,667 $896.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,970 SF

Gross rent

$118.2K $19.80/SF

− Vacancy

−$2.9K −$0.49/SF

EGI

$115.3K $19.31/SF

− OpEx

−$34.6K −$5.79/SF

NOI

$80.7K $13.52/SF

Area

Worcester County, MA

Vacancy

2.47%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,614,000

Cap Rate 7%

$1,152,857

Cap Rate 9%

$896,667

Alternative Uses

Best Use

Multifamily LT 5

$1.15M

$1.01M – $1.35M (±1% cap)

NOI $80,700 @ 7.0% cap · market cap 8.28%

Second Best

Apartment 5plus

$1.00M

$877.9K – $1.17M (±1% cap)

NOI $70,231 @ 7.0% cap · market cap 7.20%

Theoretical Best

Office A

$2.04M

$1.78M – $2.38M (±1% cap)

NOI $142,707 @ 7.0% cap · market cap 14.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage (Bike/Boat/Book/etc) Store Locksmith HVAC Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

439

Businesses Nearby

Explore this area Business Placement

Demographics for 01570, MA

17,776

Population

8,211

Households

2.2

Avg Household Size

44

Median Age

25%

College-Educated

92%

High-School Grad

12.4 sq mi

ZIP Area

1,434

Density / Sq Mi

$68,934

Median Household Income

$43,595

Median Earnings

$1,135

Median Rent

$339,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two neighboring buildings offer a mix of one-, two-, and three-bedroom apartments with updated flooring.

Where is this apartment building located?

The property is located at 11-15 5TH Avenue Webster, MA.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Seven apartments across two neighboring buildings on 0.68 acres; 5,970 square feet of building area; built in 1900; Unit mix includes one 3‑bedroom apartment and one- and two‑bedroom units