Three-Unit Residential
12 Greendale Ave, Worcester, MA 01606
For Sale
New
$699,900
Pending
Three apartments feature hardwood flooring, refreshed kitchens and baths, and access to a backyard and storage garage.
Property Size3,294 SF
Days on Market4
Property Features for 12 Greendale Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
storage garage
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Coldwell Banker Realty - Worcester
(508) 795-7500
Listed By:
Rheault Real Estate Team
(508) 499-9866
Source:
Condonrealty
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 10:32AM
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 Coldwell Banker Realty - Worcester
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Investment Insights
Based on property information with market context.
This three-unit residential property contains 3,294 square feet and dates to 1910. Hardwood floors extend throughout all three apartments, which have updated kitchens and bathrooms. Exterior features include vinyl siding, replacement windows, a newer roof, a backyard, and a storage garage.
Located at 12 Greendale Ave in Worcester, the property is close to shopping, dining, schools, and major routes. RG-5 zoning is specified.
Located at 12 Greendale Ave in Worcester, the property is close to shopping, dining, schools, and major routes. RG-5 zoning is specified.
Key Highlights
- Three residential units
- 3,294 square feet; built in 1910
- Hardwood flooring throughout all three apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,373
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,460
$967.5K
Cap Rate 7%
$691,043
$691.0K
Cap Rate 9%
$537,478
$537.5K
Market Conditions
NOI Build-Up for 3,294 SF
Gross rent
$73.1K $22.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$69.1K $20.98/SF
− OpEx
−$20.7K −$6.29/SF
NOI
$48.4K $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%
$967,460
Cap Rate 7%
$691,043
Cap Rate 9%
$537,478
Alternative Uses
Best Use
Multifamily LT 5
$691.0K
$604.7K – $806.2K
NOI $48,373 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$634.4K
$555.1K – $740.1K
NOI $44,405 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.10M
$962.0K – $1.28M
NOI $76,963 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Worcester, MA
Properties on Market for Triplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments feature hardwood flooring, refreshed kitchens and baths, and access to a backyard and storage garage.
Where is this triplex located?
The property is located at 12 Greendale Ave Worcester, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three residential units; 3,294 square feet; built in 1910; Hardwood flooring throughout all three apartments
