Multifamily Property with
For Sale
$789,900
14 Ericsson St, Worcester, MA 01606
Built in 1925, the property has natural gas baseboard heat, off-street parking, and RG-5 zoning.
Property Size3,918 SF
Price / SF$201.61
Days on Market52
Property Features for 14 Ericsson St
General Information
Standard status
Active
Size
3,918 SF
Total Parking Spaces
9
Property subtype
Residential Income
Zoning
RG-5
Taxes and HOA fees
Annual Taxes
$6,487
Amenities
None, Ceiling Fan(s)
Natural Gas, Baseboard
Full, Interior Entry, Concrete
Gas Water Heater
Ceiling Fan(s), Storage, Pantry
Paved, Off Street
Rain Gutters, Balcony
Building Details
Building Size
3,918 SF
Year Built
1925
Stories
3
Listed By:
Worcester County Homes Team
(508) 450-7635
Source:
Evrealestate
Added: Aug 27
Changed: Oct 11
Last Checked: Oct 16 at 7:42AM
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 Worcester County Homes Team
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property was built in 1925 and is zoned RG-5. Interior features include ceiling fans, storage, and a pantry, with natural gas baseboard heat and a gas water heater. A full concrete basement has interior access.
Exterior features include a balcony, rain gutters, and paved off-street parking.
Exterior features include a balcony, rain gutters, and paved off-street parking.
Key Highlights
- RG‑5 zoning
- Built in 1925
- Natural gas baseboard heat and gas water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,817
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,340
$1.1M
Cap Rate 7%
$754,529
$754.5K
Cap Rate 9%
$586,856
$586.9K
Market Conditions
NOI Build-Up for 3,918 SF
Gross rent
$101.1K $25.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$96.0K $24.51/SF
− OpEx
−$43.2K −$11.03/SF
NOI
$52.8K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,056,340
Cap Rate 7%
$754,529
Cap Rate 9%
$586,856
Alternative Uses
Best Use
Apartment 5plus
$754.5K
$660.2K – $880.3K
NOI $52,817 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.53M
NOI $91,542 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1925, the property has natural gas baseboard heat, off-street parking, and RG-5 zoning.
Where is this multifamily property located?
The property is located at 14 Ericsson St Worcester, MA.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: RG‑5 zoning; Built in 1925; Natural gas baseboard heat and gas water heater
