Renovated 3-Unit
For Sale
$850,000
122 Dorchester Street, Worcester, MA 01604
Renovated 1915-era triplex with three 4-bedroom units, in-unit washer/dryer hookups, and a two-car garage.
Property Size4,101 SF
Price / SF$207.27
Days on Market15
Property Features for 122 Dorchester Street
General Information
Standard status
Active
Size
4,101 SF
Total Parking Spaces
2
Property subtype
Multi-family / 3 Family
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
Blue Sky Realty
(508) 757-2583
Listed By:
Kelly A. Nelson · License #9510145
(508) 757-2583
Source:
Compass
Added: Jul 16
Changed: Jul 21
Last Checked: Jul 30 at 11:10AM
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 Blue Sky Realty
Investment Insights
Based on property information with market context.
This renovated 1915-era triplex offers three large units, each configured as a 4-bedroom layout (12 bedrooms total). Oversized original sitting rooms were converted into additional bedrooms to create practical, expanded living space. The seller reports long-term tenants with virtually no vacancy history. Updates include roof, siding, windows, heating systems, plumbing, electrical, cosmetics, and deleading, bringing the property to a turnkey condition. Each unit provides its own washer/dryer hookups.
The property includes a two-car garage. Residents also have access to a community playground.
From a configuration standpoint, the building is organized as three separate 4-bedroom units, each with dedicated laundry hookups, supported by the on-site garage for off-street parking.
The property includes a two-car garage. Residents also have access to a community playground.
From a configuration standpoint, the building is organized as three separate 4-bedroom units, each with dedicated laundry hookups, supported by the on-site garage for off-street parking.
Key Highlights
- Completely renovated 1915‑era triplex at 122 Dorchester St with updates including roof, siding, windows, and all heating, plumbing, and electrical systems
- 3 units total with a total of 12 bedrooms (three large units configured as 4 bedrooms each)
- Converted original oversized sitting rooms into additional bedrooms for a functional 4‑bedroom layout in each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.0k | $22.20 |
| − Vacancy | −$5.0k | −$1.22 |
| EGI | $86.0k | $20.98 |
| − OpEx | −$25.8k | −$6.29 |
| NOI | $60.2k | $14.69 |
4,101 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$860.3K
$752.8K – $1.00M
NOI $60,224 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$789.8K
$691.1K – $921.4K
NOI $55,284 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,818 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated 1915-era triplex with three 4-bedroom units, in-unit washer/dryer hookups, and a two-car garage.
Where is this triplex located?
The property is located at 122 Dorchester Street Worcester, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Completely renovated 1915‑era triplex at 122 Dorchester St with updates including roof, siding, windows, and all heating, plumbing, and electrical systems; 3 units total with a total of 12 bedrooms (three large units configured as 4 bedrooms each); Converted original oversized sitting rooms into additional bedrooms for a functional 4‑bedroom layout in each unit
