Vacant Triple Decker
For Sale
$699,999
7 Preston St, Worcester, MA 01610
Completely vacant 3-family triple decker with off-street parking, updated back porches, and multiple shed storages.
Property Size4,365 SF
Price / SF$160.37
Days on Market14
Property Features for 7 Preston St
General Information
Standard status
Active
Size
4,365 SF
Total Parking Spaces
8
Property subtype
Investment
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Park Place Realty Enterprises
(508) 410-8464
Listed By:
Karynsue Marchione-Reilly · License #9585735
(508) 410-8464
Source:
Elliman
Added: Jul 19
Changed: Jul 20
Last Checked: Aug 1 at 9:17AM
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 Park Place Realty Enterprises
Investment Insights
Based on property information with market context.
Completely vacant 3-family “triple decker” offering an overall 4,365 SF of traditional living space. The property includes a 10-year roof, vinyl siding, and a driveway with off-street parking for approximately 6–8 cars. Each unit has an updated back porch, along with three unique shed storage areas. The 1st-floor eat-in kitchen has been recently updated and modernized, and the tiled bathroom is updated as well. Central forced hot water heating is in place. The 2nd floor has recently updated heating with a standard gas on gas space heating system, while the 3rd floor needs significant cosmetic work. Each apartment features 3–4 bedrooms, a living room with dining room combo, hardwood floors, and laundry hook-ups.
The building is located in a centrally positioned neighborhood with access to downtown amenities, including Route 9, Route 122, and Route 395, as well as Clark University, Polar Park, Union Station, WSU, Holy Cross College, and nearby shopping plazas.
The building is located in a centrally positioned neighborhood with access to downtown amenities, including Route 9, Route 122, and Route 395, as well as Clark University, Polar Park, Union Station, WSU, Holy Cross College, and nearby shopping plazas.
Key Highlights
- 1890‑built 3‑family triple decker with 4,365 SF total living area and each unit featuring 3–4 beds plus living/dining room combo
- Completely vacant property with off‑street parking for 6–8 cars and updated back porches on each unit
- 1st‑floor eat‑in kitchen recently updated and modernized, plus a tiled finished bathroom
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 | $96.9k | $22.20 |
| − Vacancy | −$5.3k | −$1.22 |
| EGI | $91.6k | $20.98 |
| − OpEx | −$27.5k | −$6.29 |
| NOI | $64.1k | $14.69 |
4,365 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$915.7K
$801.3K – $1.07M
NOI $64,101 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$840.6K
$735.5K – $980.7K
NOI $58,842 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,986 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,667
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
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 - Completely vacant 3-family triple decker with off-street parking, updated back porches, and multiple shed storages.
Where is this triplex located?
The property is located at 7 Preston St Worcester, MA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 1890‑built 3‑family triple decker with 4,365 SF total living area and each unit featuring 3–4 beds plus living/dining room combo; Completely vacant property with off‑street parking for 6–8 cars and updated back porches on each unit; 1st‑floor eat‑in kitchen recently updated and modernized, plus a tiled finished bathroom
