5-Unit Apartment
1524 Main St, Worcester, MA 01603
For Sale
$755,000
Residential Income, Worcester, MA
Property Size4,260 SF
Lot Size0.32 Acres
Price / SF$177.23
Days on Market139
Property Features for 1524 Main St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Jun 24
Changed: Oct 27
Last Checked: Nov 9 at 4:06AM
MLS# 73540643
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 4,260 square feet on a 0.3241-acre parcel and was built in 1910. The building is being offered as-is with every unit vacant. Four units have received renovations, including updated interiors, new hot water tanks, and unused appliances. The fifth unit is stripped to the studs, with plumbing and electrical wiring already replaced for continued interior completion.
Off-street parking is included. The property is located in Worcester, Massachusetts, and carries RL-7 zoning. Its five-unit configuration, vacant occupancy, and combination of completed and unfinished improvements provide a clearly defined physical profile for the next owner.
Off-street parking is included. The property is located in Worcester, Massachusetts, and carries RL-7 zoning. Its five-unit configuration, vacant occupancy, and combination of completed and unfinished improvements provide a clearly defined physical profile for the next owner.
Key Highlights
- Five‑unit apartment property with all units vacant
- 4,260 square feet on 0.3241 acres
- Four of five units renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,427
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,148,540
$1.1M
Cap Rate 7%
$820,386
$820.4K
Cap Rate 9%
$638,078
$638.1K
Market Conditions
NOI Build-Up for 4,260 SF
Gross rent
$109.9K $25.80/SF
− Vacancy
−$5.5K −$1.29/SF
EGI
$104.4K $24.51/SF
− OpEx
−$47.0K −$11.03/SF
NOI
$57.4K $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%
$1,148,540
Cap Rate 7%
$820,386
Cap Rate 9%
$638,078
Alternative Uses
Best Use
Apartment 5plus
$820.4K
$717.8K – $957.1K
NOI $57,427 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,533 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
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Business Placement
Demographics for 01603, MA
22,417
Population
8,504
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
83%
High-School Grad
4.5 sq mi
ZIP Area
4,982
Density / Sq Mi
$63,646
Median Household Income
$40,403
Median Earnings
$1,339
Median Rent
$287,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Worcester, MA
Properties on Market for Apartment buildings in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - All five units are vacant, with four renovated and one open to the studs.
Where is this apartment building located?
The property is located at 1524 Main St Worcester, MA.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: Five‑unit apartment property with all units vacant; 4,260 square feet on 0.3241 acres; Four of five units renovated
