Three-Unit Multifamily
For Sale
$740,000
17 Rockdale Street, Worcester, MA 01606
Fully occupied asset with month-to-month tenancies, hardwood floors, and substantial off-street parking.
Property Size3,618 SF
Price / SF$204.53
Days on Market98
Property Features for 17 Rockdale Street
General Information
Standard status
Active
Size
3,618 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Panarelli Properties,Inc.
Listed By:
Justin Panarelli · License #9587973
(508) 754-3020
Source:
Hgjohnsonrealestate
Added: Jul 10
Changed: Oct 13
Last Checked: Oct 14 at 11:52PM
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 Panarelli Properties,Inc.
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1920 and is fully occupied. All three residences are leased on month-to-month agreements, providing current rental income and flexibility for future ownership planning. Each unit includes hardwood flooring, strong natural light, and generously sized living areas. Off-street parking is also available on the property.
The property is located at 17 Rockdale St in Worcester, near major highway access and minutes from downtown Worcester. Restaurants, shopping, entertainment, and other amenities are nearby. Walk Score is 71, described as Very Walkable; Transit Score is 35, or Some Transit; and Bike Score is 29, or Somewhat Bikeable.
The property is located at 17 Rockdale St in Worcester, near major highway access and minutes from downtown Worcester. Restaurants, shopping, entertainment, and other amenities are nearby. Walk Score is 71, described as Very Walkable; Transit Score is 35, or Some Transit; and Bike Score is 29, or Somewhat Bikeable.
Key Highlights
- Three‑unit multifamily property built in 1920
- Fully occupied with all tenants on month‑to‑month agreements
- Hardwood flooring, abundant natural light, and spacious living areas in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,131
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,062,620
$1.1M
Cap Rate 7%
$759,014
$759.0K
Cap Rate 9%
$590,344
$590.3K
Market Conditions
NOI Build-Up for 3,618 SF
Gross rent
$80.3K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.9K $20.98/SF
− OpEx
−$22.8K −$6.29/SF
NOI
$53.1K $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%
$1,062,620
Cap Rate 7%
$759,014
Cap Rate 9%
$590,344
Alternative Uses
Best Use
Multifamily LT 5
$759.0K
$664.1K – $885.5K
NOI $53,131 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$696.7K
$609.7K – $812.9K
NOI $48,772 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,533 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 01606, MA
21,651
Population
9,427
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
3,609
Density / Sq Mi
$92,537
Median Household Income
$55,931
Median Earnings
$1,615
Median Rent
$343,700
Median Home Value
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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 - Fully occupied asset with month-to-month tenancies, hardwood floors, and substantial off-street parking.
Where is this triplex located?
The property is located at 17 Rockdale Street Worcester, MA.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1920; Fully occupied with all tenants on month‑to‑month agreements; Hardwood flooring, abundant natural light, and spacious living areas in each unit
