8-Unit Mixed-Use
143-147 Vernon Street Worcester, MA 01604
143-147 Vernon Street, Worcester, MA, 01604
$2,275,000
For Sale
$2,275,000
Portfolio includes two three-unit buildings and one two-family with abundant off-street parking and a three-car garage.
Property Size10,806 SF
Price / SF$210.53
Days on Market157
Property Features for 143-147 Vernon Street
General Information
- Standard status
- Active
- Size
- 10,806 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
RE/MAX Partners
Listed by
James Kalogeropoulos
(774) 280-2745
Source
Broadboutique
Added: Feb 15 Updated: Jul 21 at 12:04AM Checked: Jul 21 at 7:02AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This well-maintained mixed-use portfolio offers eight residential units across two three-unit buildings and one two-family. The property includes abundant off-street parking, two parking areas, and a three-car garage. Care and upkeep are evident throughout, with numerous updates to cosmetics plus plumbing and electrical systems.
Many units feature updated kitchens and bathrooms, forced hot air heating systems, and in-unit washer and dryer. The current rent levels are described as below market in the offering materials.
The asset is positioned near major highways, hospitals, and Union Station, supporting convenient access for tenants and visitors.
Many units feature updated kitchens and bathrooms, forced hot air heating systems, and in-unit washer and dryer. The current rent levels are described as below market in the offering materials.
The asset is positioned near major highways, hospitals, and Union Station, supporting convenient access for tenants and visitors.
Key Highlights
- Mixed‑use 8‑unit portfolio: two three‑unit buildings and one two‑family
- Abundant off‑street parking with two parking areas plus a three‑car garage
- Numerous updates include cosmetics, plumbing, and electrical systems across the property
Local 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 | $239.9k | $22.20 |
| − Vacancy | −$13.2k | −$1.22 |
| EGI | $226.7k | $20.98 |
| − OpEx | −$68.0k | −$6.29 |
| NOI | $158.7k | $14.69 |
10,806 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.27M
$1.98M – $2.64M
NOI $158,689 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$2.08M
$1.82M – $2.43M
NOI $145,670 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,477 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Portfolio includes two three-unit buildings and one two-family with abundant off-street parking and a three-car garage.
Where is this apartment building located?
The property is located at 143-147 Vernon Street Worcester, MA.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Mixed‑use 8‑unit portfolio: two three‑unit buildings and one two‑family; Abundant off‑street parking with two parking areas plus a three‑car garage; Numerous updates include cosmetics, plumbing, and electrical systems across the property
