Three-Unit Residential
New
For Sale
$724,999
169 Perry Ave, Worcester, MA 01610
Three similarly arranged apartments include private balconies and washer and dryer hookups.
Property Size4,026 SF
Days on Market6
Property Features for 169 Perry Ave
General Information
Standard status
Active
Size
4,026 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,672
Amenities
balcony
washer and dryer hookups
solar panels
backyard
Building Details
Building Size
4,026 SF
Year Built
1915
Buildings
1
Stories
3
Units
3
Listing Agency:
Douglas Elliman Real Estate - The Sarkis Team
Listed By:
The Sarkis Team
(617) 875-4950
Source:
Elliman
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 10:45AM
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 Douglas Elliman Real Estate - The Sarkis Team
Investment Insights
Based on property information with market context.
This 18-room residential property contains three apartments, each with three bedrooms and one bathroom. The layouts are similar across the units, with balconies and washer and dryer hookups in each. Building features include three forced-air gas heating systems, separately metered utilities, a newer roof, and solar panels that help offset electricity use in common areas. Lead certificates are in place for all three units, and a small backyard adds outdoor space. The property was built in 1915.
Located in Worcester, the property is near major highways, public transportation, hospitals, Holy Cross, and Polar Park. Walk Score is 57, Bike Score is 28, and Transit Score is 34.
Located in Worcester, the property is near major highways, public transportation, hospitals, Holy Cross, and Polar Park. Walk Score is 57, Bike Score is 28, and Transit Score is 34.
Key Highlights
- Three units, each with three bedrooms and one bathroom
- 18 rooms total; similar layouts across all three apartments
- Three forced‑air gas heating systems and separately metered utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,123
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,460
$1.2M
Cap Rate 7%
$844,614
$844.6K
Cap Rate 9%
$656,922
$656.9K
Market Conditions
NOI Build-Up for 4,026 SF
Gross rent
$89.4K $22.20/SF
− Vacancy
−$4.9K −$1.22/SF
EGI
$84.5K $20.98/SF
− OpEx
−$25.3K −$6.29/SF
NOI
$59.1K $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%
$1,182,460
Cap Rate 7%
$844,614
Cap Rate 9%
$656,922
Alternative Uses
Best Use
Multifamily LT 5
$844.6K
$739.0K – $985.4K
NOI $59,123 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$775.3K
$678.4K – $904.5K
NOI $54,272 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,065 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three similarly arranged apartments include private balconies and washer and dryer hookups.
Where is this triplex located?
The property is located at 169 Perry Ave Worcester, MA.
What is the asking price?
The asking price for this property is $724,999.
What are key features of this property?
This property features: Three units, each with three bedrooms and one bathroom; 18 rooms total; similar layouts across all three apartments; Three forced‑air gas heating systems and separately metered utilities
