Three-Unit Multifamily
For Sale
$725,000
11 Leon St, Worcester, MA 01604
Well-maintained triplex with two-bedroom units, updated windows, a newer roof, and individual kitchens and bathrooms.
Property Size2,793 SF
Days on Market52
Property Features for 11 Leon St
General Information
Standard status
Active
Size
2,793 SF
Property subtype
Investment
Site & Location
Neighborhood
Union Hill C.w.a.
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,542
Building Details
Building Size
2,793 SF
Year Built
1920
Buildings
1
Stories
6
Units
3
Listed By:
Jasmine Ortiz
(774) 437-2503
Source:
Elliman
Added: Sep 12
Changed: Oct 25
Last Checked: Nov 1 at 7:44AM
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 Jasmine Ortiz
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Investment Insights
Based on property information with market context.
Built in 1920, this three-unit multifamily property offers a consistent layout across the building, with two bedrooms, a living area, kitchen, and bathroom in each unit. The interiors are described as spacious, while the building has been maintained with a clean basement and carefully managed grounds.
Recent property updates include a new roof, recently updated windows, and gutters. The property is located in Worcester’s Grafton Hill / Rice Square neighborhood. WalkScore is 77, indicating a Very Walkable setting; BikeScore is 43, and TransitScore is 44.
Recent property updates include a new roof, recently updated windows, and gutters. The property is located in Worcester’s Grafton Hill / Rice Square neighborhood. WalkScore is 77, indicating a Very Walkable setting; BikeScore is 43, and TransitScore is 44.
Key Highlights
- Three‑unit multifamily building
- Each unit includes two bedrooms, a living area, kitchen, and bathroom
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,016
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,320
$820.3K
Cap Rate 7%
$585,943
$585.9K
Cap Rate 9%
$455,733
$455.7K
Market Conditions
NOI Build-Up for 2,793 SF
Gross rent
$62.0K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$58.6K $20.98/SF
− OpEx
−$17.6K −$6.29/SF
NOI
$41.0K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,320
Cap Rate 7%
$585,943
Cap Rate 9%
$455,733
Alternative Uses
Best Use
Multifamily LT 5
$585.9K
$512.7K – $683.6K
NOI $41,016 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$537.9K
$470.6K – $627.5K
NOI $37,651 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$932.2K
$815.7K – $1.09M
NOI $65,257 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
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Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained triplex with two-bedroom units, updated windows, a newer roof, and individual kitchens and bathrooms.
Where is this triplex located?
The property is located at 11 Leon St Worcester, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit multifamily building; Each unit includes two bedrooms, a living area, kitchen, and bathroom; Built in 1920
