Clustered 24-Unit Multifamily
2 Ureco Ter Worcester, MA 01602
2 Ureco Ter, Worcester, MA, 01602
$4,850,000
For Sale
$4,850,000
Portfolio of five adjacent multifamily properties totaling 24 units, positioned along a single private drive.
Property Size26,656 SF
Price / SF$181.95
Days on Market15
Property Features for 2 Ureco Ter
General Information
- Standard status
- Active
- Size
- 26,656 SF
Listing agency
BA Property & Lifestyle Advisors
(508) 509-8867
Listed by
Michael Barbera
(508) 509-8867
Source
Exprealty
Added: Jul 8 Updated: Jul 21 at 1:08PM Checked: Jul 21 at 1:08PM
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
Investment Insights
Based on property information with market context.
This clustered multifamily portfolio consists of five properties totaling 24 units, all situated along a single private drive. The package includes 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).
The portfolio is 95.8% occupied and generates gross scheduled rent of $475,800 per year, with stabilized NOI of $240,197. Average in-place rent is reported at $1,724 per month.
Recent capital improvements include a full gut renovation at 9 Ureco Terrace in 2025, kitchen and bath upgrades at 2 Ureco Unit 2L in 2023, and boiler replacements, supporting the portfolio’s stabilized operations.
The portfolio is 95.8% occupied and generates gross scheduled rent of $475,800 per year, with stabilized NOI of $240,197. Average in-place rent is reported at $1,724 per month.
Recent capital improvements include a full gut renovation at 9 Ureco Terrace in 2025, kitchen and bath upgrades at 2 Ureco Unit 2L in 2023, and boiler replacements, supporting the portfolio’s stabilized operations.
Key Highlights
- Clustered 24‑unit multifamily portfolio across five adjacent properties along a single private drive.
- Property mix: 827 Pleasant St (10 units), 2 Ureco Terrace (9 units), 7–9 Ureco Terrace (2 units), 831 Pleasant St (2 units), 3 Ureco Terrace (1 unit).
- 95.8% occupied with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197.
Local Financial Insights For Apartment 5plus
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 | $687.7k | $25.80 |
| − Vacancy | −$34.4k | −$1.29 |
| EGI | $653.3k | $24.51 |
| − OpEx | −$294.0k | −$11.03 |
| NOI | $359.3k | $13.48 |
26,656 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Portfolio of five adjacent multifamily properties totaling 24 units, positioned along a single private drive.
Where is this apartment building located?
The property is located at 2 Ureco Ter 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: Clustered 24‑unit multifamily portfolio across five adjacent properties along a single private drive.; Property mix: 827 Pleasant St (10 units), 2 Ureco Terrace (9 units), 7–9 Ureco Terrace (2 units), 831 Pleasant St (2 units), 3 Ureco Terrace (1 unit).; 95.8% occupied with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197.
