Turnkey 3-Unit Residential
For Sale
$649,999
16 W Oberlin Street, Worcester, MA 01610
Turnkey 3-family with updated kitchens and baths, separated utilities, and off-street parking.
Property Size2,588 SF
Price / SF$251.16
Days on Market89
Property Features for 16 W Oberlin Street
General Information
Standard status
Active
Size
2,588 SF
Property subtype
Multi-family
Amenities
laundry area
Building Details
Year Built
1895
Listing Agency:
Property Investors & Advisors,LLC
Listed By:
The Torres Group
(617) 236-0711
Source:
Campionre
Added: May 6
Changed: Jul 21
Last Checked: Aug 2 at 3:01PM
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 Property Investors & Advisors,LLC
Investment Insights
Based on property information with market context.
This turnkey 3-family residential income property offers three separate units with separated electric and heat. Units 1 and 2 use gas heat, while the 3rd-floor unit is served by electric heat. Interior updates include updated kitchens, updated baths, and vinyl flooring throughout. The building includes a total of 7 bedrooms and 3 full baths, with approximately 2,588 square feet of total living space. There is also a dedicated laundry area on the property.
The property is offered for sale with plenty of off-street parking. The seller notes that much of the work has been completed.
The utilities are independently separated across the units, supporting straightforward operation as a multi-family asset.
The property is offered for sale with plenty of off-street parking. The seller notes that much of the work has been completed.
The utilities are independently separated across the units, supporting straightforward operation as a multi-family asset.
Key Highlights
- Turnkey 3‑family built in 1895 with updated kitchens, updated baths, and vinyl flooring in all three units
- Separated electric and heat: gas heat in Units 1 & 2, electric heat on the 3rd floor
- Approx. 2,588 sq ft total with 7 bedrooms and 3 full baths across the three units
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 | $57.5k | $22.20 |
| − Vacancy | −$3.2k | −$1.22 |
| EGI | $54.3k | $20.98 |
| − OpEx | −$16.3k | −$6.29 |
| NOI | $38.0k | $14.69 |
2,588 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$542.9K
$475.1K – $633.4K
NOI $38,006 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$498.4K
$436.1K – $581.5K
NOI $34,888 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$863.8K
$755.8K – $1.01M
NOI $60,467 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,835
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?
Triplex - Turnkey 3-family with updated kitchens and baths, separated utilities, and off-street parking.
Where is this triplex located?
The property is located at 16 W Oberlin Street Worcester, MA.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Turnkey 3‑family built in 1895 with updated kitchens, updated baths, and vinyl flooring in all three units; Separated electric and heat: gas heat in Units 1 & 2, electric heat on the 3rd floor; Approx. 2,588 sq ft total with 7 bedrooms and 3 full baths across the three units
