Clustered 24-Unit Multifamily
For Sale
$4,850,000
2 Ureco Ter Portfolio, Worcester, MA 01602
Portfolio of five properties totaling 24 units along one private drive, with 95.8% occupancy and recent capital improvements.
Property Size26,656 SF
Days on Market102
Property Features for 2 Ureco Ter Portfolio
General Information
Standard status
Active
Size
26,656 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$68,892
Building Details
Building Size
26,656 SF
Year Built
1910
Listing Agency:
BA Property & Lifestyle Advisors
Listed By:
Michael Barbera
(508) 509-8867
Source:
Classifiedrealtygroup
Added: Jul 9
Changed: Oct 11
Last Checked: Oct 16 at 6:11AM
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 BA Property & Lifestyle Advisors
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Investment Insights
Based on property information with market context.
This clustered multifamily portfolio totals 24 units across five properties on a single private drive in Worcester’s Newton Square/West Side area. The units are spread across 827 Pleasant St (10 units), 2 Ureco Terrace (9 units), 7–9 Ureco Terrace (2 units), 831 Pleasant St (2 units), and 3 Ureco Terrace (1 unit). Current occupancy is 95.8%.
The offering is reported with gross scheduled rent of $475,800 per year and stabilized NOI of $240,197, with an average in-place rent of $1,724 per month. Recent capital improvements are cited at approximately $395,000, including a full gut renovation at 9 Ureco Terrace in 2025, a kitchen/bath upgrade at 2 Ureco Unit 2L in 2023, and boiler replacements. The seller is offering the portfolio for $4,850,000 (approximately $202K per unit).
The offering is reported with gross scheduled rent of $475,800 per year and stabilized NOI of $240,197, with an average in-place rent of $1,724 per month. Recent capital improvements are cited at approximately $395,000, including a full gut renovation at 9 Ureco Terrace in 2025, a kitchen/bath upgrade at 2 Ureco Unit 2L in 2023, and boiler replacements. The seller is offering the portfolio for $4,850,000 (approximately $202K per unit).
Key Highlights
- 24‑unit clustered multifamily portfolio across five properties along one private drive
- 95.8% occupied with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197
- Average in‑place rent is $1,724/month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$359,336
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,186,720
$7.2M
Cap Rate 7%
$5,133,371
$5.1M
Cap Rate 9%
$3,992,622
$4.0M
Market Conditions
NOI Build-Up for 26,656 SF
Gross rent
$687.7K $25.80/SF
− Vacancy
−$34.4K −$1.29/SF
EGI
$653.3K $24.51/SF
− OpEx
−$294.0K −$11.03/SF
NOI
$359.3K $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%
$7,186,720
Cap Rate 7%
$5,133,371
Cap Rate 9%
$3,992,622
Alternative Uses
Best Use
Apartment 5plus
$5.13M
$4.49M – $5.99M
NOI $359,336 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.90M
$7.79M – $10.38M
NOI $622,804 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
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Business Placement
Demographics for 01602, MA
25,382
Population
10,483
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
4,376
Density / Sq Mi
$94,351
Median Household Income
$47,259
Median Earnings
$1,471
Median Rent
$380,800
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
Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio of five properties totaling 24 units along one private drive, with 95.8% occupancy and recent capital improvements.
Where is this apartment building located?
The property is located at 2 Ureco Ter Portfolio Worcester, MA.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 24‑unit clustered multifamily portfolio across five properties along one private drive; 95.8% occupied with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197; Average in‑place rent is $1,724/month
