Three-Unit Residential
For Sale
$699,865
16 Reservoir Street, Worcester, MA 01605
Three-story multifamily property with private yard and convenient access to hospitals, schools, bus routes, and commuter connections.
Property Size4,125 SF
Price / SF$169.66
Days on Market62
Property Features for 16 Reservoir Street
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
private yard
Building Details
Year Built
1890
Stories
3
Listing Agency:
Starterline
Listed By:
Ray Lopolito
(781) 933-7200
Source:
Jmulkerinrealty
Added: Aug 5
Changed: Oct 4
Last Checked: Oct 4 at 10:07AM
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 Starterline
Investment Insights
Based on property information with market context.
This three-unit residential property contains 4,125 square feet across three stories, with nine bedrooms and one full bathroom serving each unit. Built in 1890, the building also includes a private yard and has undergone recent updates. Permits associated with the work were applied for and are being closed out by a licensed contractor.
Located at 16 Reservoir Street in Worcester, the property is near hospital services, bus routes, schools, and commuter access. Its three-unit configuration and substantial bedroom count provide a defined multifamily layout within the Belmont St Hill area.
Located at 16 Reservoir Street in Worcester, the property is near hospital services, bus routes, schools, and commuter access. Its three-unit configuration and substantial bedroom count provide a defined multifamily layout within the Belmont St Hill area.
Key Highlights
- 4,125‑square‑foot triplex at 16 Reservoir Street, Worcester, MA 01605
- Three‑story building with nine bedrooms
- One full bathroom in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,577
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,211,540
$1.2M
Cap Rate 7%
$865,386
$865.4K
Cap Rate 9%
$673,078
$673.1K
Market Conditions
NOI Build-Up for 4,125 SF
Gross rent
$91.6K $22.20/SF
− Vacancy
−$5.0K −$1.22/SF
EGI
$86.5K $20.98/SF
− OpEx
−$26.0K −$6.29/SF
NOI
$60.6K $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%
$1,211,540
Cap Rate 7%
$865,386
Cap Rate 9%
$673,078
Alternative Uses
Best Use
Multifamily LT 5
$865.4K
$757.2K – $1.01M
NOI $60,577 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$794.4K
$695.1K – $926.8K
NOI $55,607 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,378 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 01605, MA
29,218
Population
12,757
Households
2.3
Avg Household Size
35
Median Age
32%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
5,126
Density / Sq Mi
$54,805
Median Household Income
$41,236
Median Earnings
$1,362
Median Rent
$349,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-story multifamily property with private yard and convenient access to hospitals, schools, bus routes, and commuter connections.
Where is this triplex located?
The property is located at 16 Reservoir Street Worcester, MA.
What is the asking price?
The asking price for this property is $699,865.
What are key features of this property?
This property features: 4,125‑square‑foot triplex at 16 Reservoir Street, Worcester, MA 01605; Three‑story building with nine bedrooms; One full bathroom in each unit
