Worcester Three-Family Investment
For Sale
Contact for pricing
15 Goulding St, Worcester, MA 01609
Well-located three-family property near Downtown, Highland Street, and Elm Park.
Property Size3,204 SF
Price / SF$226.28
Days on Market251
Property Features for 15 Goulding St
General Information
Standard status
Active
Size
3,204 SF
Property subtype
Multifamily
Zoning
RG-5
Building Details
Year Built
1880
Stories
3
Units
3
Listing Agency:
NAI Glickman Kovago & Jacobs
Listed By:
Brendan Toohey · License #9629048
(508) 612-3025
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,052
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,040
$941.0K
Cap Rate 7%
$672,171
$672.2K
Cap Rate 9%
$522,800
$522.8K
Market Conditions
NOI Build-Up for 3,204 SF
Gross rent
$71.1K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$67.2K $20.98/SF
− OpEx
−$20.2K −$6.29/SF
NOI
$47.1K $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%
$941,040
Cap Rate 7%
$672,171
Cap Rate 9%
$522,800
Alternative Uses
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 authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
4,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 St 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).
