Turnkey 4-Unit Multifamily
For Sale
$829,999
154 Perry Avenue, Worcester, MA 01610
Four-unit residential income building with renovated interiors, separate utilities, and washer/dryer hookups in three units.
Property Size4,696 SF
Price / SF$176.75
Days on Market138
Property Features for 154 Perry Avenue
General Information
Standard status
Active
Size
4,696 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
eXp Realty
Listed By:
Candor Investment Group
(617) 731-4644
Source:
Hammondre
Added: Mar 18
Changed: Jul 21
Last Checked: Jul 22 at 8:28AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This turnkey four-unit multifamily property offers three spacious 3-bedroom units and one 2-bedroom basement unit. The basement unit has private access and direct access to a small backyard. Recent renovations include refinished hardwood floors, updated vinyl flooring, fresh paint, and stainless-steel appliances. The 3-bedroom units also include washer/dryer hookups, and utilities are separate for each unit. Units 1 and 3 are lead certified compliant.
Located in Worcester with commuter-friendly access, the property provides quick routes to I-290, Route 146, and the Mass Pike. The smaller lot size is designed to help minimize snow removal and landscaping expenses, supporting day-to-day operational simplicity.
With flexible layouts and strong in-unit features, the configuration is built to support consistent rental appeal for a variety of household needs.
Located in Worcester with commuter-friendly access, the property provides quick routes to I-290, Route 146, and the Mass Pike. The smaller lot size is designed to help minimize snow removal and landscaping expenses, supporting day-to-day operational simplicity.
With flexible layouts and strong in-unit features, the configuration is built to support consistent rental appeal for a variety of household needs.
Key Highlights
- 4‑unit residential building built in 1910 with renovated interiors and updated finishes across units
- Unit mix: three 3‑bedroom units plus one 2‑bedroom basement unit with private access and direct access to a small backyard
- Renovated units include refinished hardwood floors, updated vinyl flooring, fresh paint, and stainless‑steel appliances
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 | $104.3k | $22.20 |
| − Vacancy | −$5.7k | −$1.22 |
| EGI | $98.5k | $20.98 |
| − OpEx | −$29.6k | −$6.29 |
| NOI | $69.0k | $14.69 |
4,696 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$985.2K
$862.0K – $1.15M
NOI $68,962 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$904.3K
$791.3K – $1.06M
NOI $63,304 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,720 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
845
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income building with renovated interiors, separate utilities, and washer/dryer hookups in three units.
Where is this quadplex located?
The property is located at 154 Perry Avenue Worcester, MA.
What is the asking price?
The asking price for this property is $829,999.
What are key features of this property?
This property features: 4‑unit residential building built in 1910 with renovated interiors and updated finishes across units; Unit mix: three 3‑bedroom units plus one 2‑bedroom basement unit with private access and direct access to a small backyard; Renovated units include refinished hardwood floors, updated vinyl flooring, fresh paint, and stainless‑steel appliances
