Renovated Three-Family
For Sale
$799,900
Pending
15 Vernon St, Worcester, MA 01610
Three updated units feature separate utility metering, refreshed interiors, and upgraded kitchens, bathrooms, flooring, and mechanical systems.
Property Size3,770 SF
Days on Market52
Property Features for 15 Vernon St
General Information
Standard status
Pending
Size
3,770 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Union Hill C.w.a.
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,639
Building Details
Building Size
3,770 SF
Year Built
1904
Buildings
1
Listing Agency:
Lamacchia Realty, Inc.
Listed By:
We Close Deals Team
(508) 612-0821
Source:
Classifiedrealtygroup
Added: Sep 12
Changed: Oct 29
Last Checked: Nov 1 at 2:53AM
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 Lamacchia Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 1904, this three-unit residential property has been renovated from the studs and includes 8 bedrooms and 4 bathrooms. Each unit offers updated kitchens, bathrooms, flooring, and mechanical systems, with separate utility metering for each unit.
The property is located at 15 Vernon St in Worcester’s Kelley Square neighborhood, minutes from Polar Park, Worcester Public Market, restaurants, shops, major routes, and the Canal District. The layout supports both multifamily ownership and occupancy of one unit while leasing the others, as described in the property information.
The property is located at 15 Vernon St in Worcester’s Kelley Square neighborhood, minutes from Polar Park, Worcester Public Market, restaurants, shops, major routes, and the Canal District. The layout supports both multifamily ownership and occupancy of one unit while leasing the others, as described in the property information.
Key Highlights
- Three units with 8 bedrooms and 4 bathrooms
- Renovated from the studs with updated kitchens, bathrooms, flooring, and mechanicals
- Separate utility metering for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,364
Cap Rate
6.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,107,280
$1.1M
Cap Rate 7%
$790,914
$790.9K
Cap Rate 9%
$615,156
$615.2K
Market Conditions
NOI Build-Up for 3,770 SF
Gross rent
$83.7K $22.20/SF
− Vacancy
−$4.6K −$1.22/SF
EGI
$79.1K $20.98/SF
− OpEx
−$23.7K −$6.29/SF
NOI
$55.4K $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%
$1,107,280
Cap Rate 7%
$790,914
Cap Rate 9%
$615,156
Alternative Uses
Best Use
Multifamily LT 5
$790.9K
$692.1K – $922.7K
NOI $55,364 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$726.0K
$635.3K – $847.0K
NOI $50,821 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,084 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 01610, MA
28,717
Population
10,263
Households
2.8
Avg Household Size
28
Median Age
18%
College-Educated
74%
High-School Grad
2.1 sq mi
ZIP Area
13,675
Density / Sq Mi
$43,757
Median Household Income
$22,978
Median Earnings
$1,339
Median Rent
$279,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated units feature separate utility metering, refreshed interiors, and upgraded kitchens, bathrooms, flooring, and mechanical systems.
Where is this triplex located?
The property is located at 15 Vernon St Worcester, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three units with 8 bedrooms and 4 bathrooms; Renovated from the studs with updated kitchens, bathrooms, flooring, and mechanicals; Separate utility metering for each unit
