Renovated Three-Unit
For Sale
$924,000
139 Lincoln St, Worcester, MA 01605
Three vacant four-bedroom units feature new kitchens, bathrooms, appliances, and HVAC systems.
Property Size4,870 SF
Price / SF$189.73
Days on Market226
Property Features for 139 Lincoln St
General Information
Standard status
Active
Size
4,870 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RG-5
Units
Unit Mix
3 x 4BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,126
Building Details
Building Size
4,870 SF
Year Built
1903
Stories
3
Listing Agency:
REMAX Executive Realty
(508) 435-6700
Listed By:
Jennifer French · License #9538347
(617) 997-2207
Source:
Churchillprop
Added: Mar 3
Changed: Oct 6
Last Checked: Oct 14 at 8:06PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This 4,870-square-foot triplex contains three four-bedroom, one-bathroom units, providing a consistent residential layout across the building. The property underwent a full gut renovation with updated kitchens, bathrooms, appliances, HVAC systems, and a new roof. Interior finishes were selected for contemporary appeal and durable everyday use, while parking is available on site.
Built in 1903, the property is located in Worcester near I-290, shops, restaurants, and Green Hill Park & Golf Course. Kelley Square is approximately 2 miles away. All three units are currently vacant, allowing the next owner to take possession of the completed improvements without existing occupancy.
Built in 1903, the property is located in Worcester near I-290, shops, restaurants, and Green Hill Park & Golf Course. Kelley Square is approximately 2 miles away. All three units are currently vacant, allowing the next owner to take possession of the completed improvements without existing occupancy.
Key Highlights
- 4,870 SF triplex with three 4BR/1BA units
- Full gut renovation includes new kitchens, bathrooms, appliances, and HVAC systems
- New roof installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,517
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,430,340
$1.4M
Cap Rate 7%
$1,021,671
$1.0M
Cap Rate 9%
$794,633
$794.6K
Market Conditions
NOI Build-Up for 4,870 SF
Gross rent
$108.1K $22.20/SF
− Vacancy
−$5.9K −$1.22/SF
EGI
$102.2K $20.98/SF
− OpEx
−$30.7K −$6.29/SF
NOI
$71.5K $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%
$1,430,340
Cap Rate 7%
$1,021,671
Cap Rate 9%
$794,633
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$894.0K – $1.19M
NOI $71,517 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$937.9K
$820.6K – $1.09M
NOI $65,650 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,785 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,502
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three vacant four-bedroom units feature new kitchens, bathrooms, appliances, and HVAC systems.
Where is this triplex located?
The property is located at 139 Lincoln St Worcester, MA.
What is the asking price?
The asking price for this property is $924,000.
What are key features of this property?
This property features: 4,870 SF triplex with three 4BR/1BA units; Full gut renovation includes new kitchens, bathrooms, appliances, and HVAC systems; New roof installed
