Worcester Three-Family Investment
15 Goulding Street, Worcester, MA 01609
Well-located three-family property near Downtown, Highland Street, and Elm Park.
Type:Multifamily
Property size:
3,204 SFPrice / SF:
$226/SF- Added:
- Feb 25, 2026
- Days on Market:
- 82
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 15 Goulding Street
General Information
- Standard status
- Active
- Size
- 3,204 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1880
Listing agent Brendan Toohey License #9629048
Listing office NAI Glickman Kovago & Jacobs
Listing date Feb 25, 2026
Source Crexi
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 NAI Glickman Kovago & Jacobs
HighLights
- Strong rental demand due to proximity to Downtown, Highland Street, WPI, MCPHS, UMass Memorial, and Elm Park.
- Located in a highly desirable Worcester neighborhood known for multifamily ownership.
- Convenient access to major transportation corridors (I‑290, I‑190, I‑90) and Union Station (MBTA).
- Close proximity to major employment centers, universities, parks, dining, and cultural attractions.
- Three‑family investment property offering long‑term appreciation potential.
- Walkable surroundings in a convenient and investment‑friendly location.
Overview
The property at 15 Goulding Street is a three-family investment property located in Worcester, Massachusetts. The building contains three residential units. Its location near Downtown, Highland Street, Worcester Polytechnic Institute (WPI), and Elm Park contributes to strong rental demand from students, professionals, and urban renters. The property is situated in a desirable neighborhood for multifamily ownership. It is near Worcester Polytechnic Institute, MCPHS University Worcester, and UMass Memorial Medical Center. The location provides access to I-290, I-190, and I-90, offering connectivity throughout Central Massachusetts and Greater Boston. Nearby amenities include Union Station Worcester (MBTA) and the DCU Center, in addition to shopping, dining, and cultural attractions. The property is positioned in an investment-friendly location with walkable surroundings and access to key institutions and infrastructure. The property size is 3204 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$522.8K
NOI $47,052 @ 9.00% cap · cautious / downside scenario
Moderate
$672.2K
NOI $47,052 @ 7.00% cap · market / base-case scenario
Aggressive
$941.0K
NOI $47,052 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.1k | $22.20 |
| − Vacancy | −$3.9k | −$1.22 |
| EGI | $67.2k | $20.98 |
| − OpEx | −$20.2k | −$6.29 |
| NOI | $47.1k | $14.69 |
3,204 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$672.2K
$588.2K – $784.2K
NOI $47,052 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$617.0K
$539.9K – $719.9K
NOI $43,192 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.07M
$935.8K – $1.25M
NOI $74,860 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.8051688
- Latitude
- 42.2707933
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-located three-family property near Downtown, Highland Street, and Elm Park.
Where is this triplex located?
The property is located at 15 Goulding Street Worcester, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Strong rental demand due to proximity to Downtown, Highland Street, WPI, MCPHS, UMass Memorial, and Elm Park.; Located in a highly desirable Worcester neighborhood known for multifamily ownership.; Convenient access to major transportation corridors (I‑290, I‑190, I‑90) and Union Station (MBTA).
