12-Room Lodging House with
New
For Sale
$899,900
19 Perry Ave, Worcester, MA 01610
Life-safety systems, updated building infrastructure, and coin-operated laundry support the current lodging-house operation.
Property Size3,534 SF
Days on Market3
Property Features for 19 Perry Ave
General Information
Standard status
Active
Size
3,534 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$7,348
Amenities
coin-operated laundry
addressable fire alarm system
hardwired smoke and carbon monoxide detection
security camera coverage
Building Details
Building Size
3,534 SF
Year Built
1890
Stories
3
Units
3
Listing Agency:
Coldwell Banker Realty - Worcester
Listed By:
Brandon O'Neal · License #K8000689
(774) 287-7398
Source:
Elliman
Added: Oct 4
Last Checked: Oct 5 at 6:33PM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
Operating as a 12-room lodging house, this residential income property has an approved configuration for that use following conversion from a three-family layout. Improvements include commercial sprinkler protection, an addressable fire alarm with central station monitoring, hardwired smoke and carbon monoxide detection, and security camera coverage. Electrical and plumbing systems have also been upgraded, and the deck and porch have been replaced. Coin-operated laundry serves the property. The building dates to 1890.
The property is near downtown Worcester, colleges, hospitals, major employers, public transportation, and neighborhood amenities. Its Walk Score is 85, Bike Score is 58, and Transit Score is 50.
The property is near downtown Worcester, colleges, hospitals, major employers, public transportation, and neighborhood amenities. Its Walk Score is 85, Bike Score is 58, and Transit Score is 50.
Key Highlights
- Approved 12‑room lodging‑house configuration; currently operated as a lodging house
- Commercial sprinkler system and addressable fire alarm with central station monitoring
- Hardwired smoke and carbon monoxide detection, plus security camera coverage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,640
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,800
$952.8K
Cap Rate 7%
$680,571
$680.6K
Cap Rate 9%
$529,333
$529.3K
Market Conditions
NOI Build-Up for 3,534 SF
Gross rent
$91.2K $25.80/SF
− Vacancy
−$4.6K −$1.29/SF
EGI
$86.6K $24.51/SF
− OpEx
−$39.0K −$11.03/SF
NOI
$47.6K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,800
Cap Rate 7%
$680,571
Cap Rate 9%
$529,333
Alternative Uses
Best Use
Apartment 5plus
$680.6K
$595.5K – $794.0K
NOI $47,640 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,570 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,398
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Life-safety systems, updated building infrastructure, and coin-operated laundry support the current lodging-house operation.
Where is this residential income property located?
The property is located at 19 Perry Ave Worcester, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Approved 12‑room lodging‑house configuration; currently operated as a lodging house; Commercial sprinkler system and addressable fire alarm with central station monitoring; Hardwired smoke and carbon monoxide detection, plus security camera coverage
