3-Unit Multifamily
23 Jefferson St, Worcester, MA 01604
For Sale
New
$699,000
The three-level layout includes distinct living, dining, and kitchen spaces, along with nine bedrooms and three full bathrooms.
Property Size3,892 SF
Days on Market2
Property Features for 23 Jefferson St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
MIG
Listed By:
Sohrab Khan
(617) 678-6843
Source:
Elliman
Added: Nov 6
Last Checked: Nov 6 at 2:49PM
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 MIG
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-unit property in Worcester was built in 1890 and spans three levels, with nine bedrooms and three full bathrooms. Each unit has separate living, dining, and kitchen areas, and hardwood flooring runs throughout all three units. Recent work includes front and rear porch improvements, basement updates, fresh paint in each unit, a new heating system in Unit 3, and replacement windows. Unit 1 is lead certified. The property is currently vacant.
Located at 23 Jefferson St, the property is near the central bus and train station and Polar Park. Regional routes listed nearby include 146, I 190, 290, 122, I 90, Rt 9, Rt 20, and 395.
Located at 23 Jefferson St, the property is near the central bus and train station and Polar Park. Regional routes listed nearby include 146, I 190, 290, 122, I 90, Rt 9, Rt 20, and 395.
Key Highlights
- Three‑unit property with nine bedrooms and three full bathrooms
- Three levels with separate living, dining, and kitchen areas in each unit
- Hardwood floors throughout all three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,155
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,100
$1.1M
Cap Rate 7%
$816,500
$816.5K
Cap Rate 9%
$635,056
$635.1K
Market Conditions
NOI Build-Up for 3,892 SF
Gross rent
$86.4K $22.20/SF
− Vacancy
−$4.8K −$1.22/SF
EGI
$81.7K $20.98/SF
− OpEx
−$24.5K −$6.29/SF
NOI
$57.2K $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%
$1,143,100
Cap Rate 7%
$816,500
Cap Rate 9%
$635,056
Alternative Uses
Best Use
Multifamily LT 5
$816.5K
$714.4K – $952.6K
NOI $57,155 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$749.5K
$655.8K – $874.4K
NOI $52,466 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,935 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Worcester, MA
Properties on Market for Triplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three-level layout includes distinct living, dining, and kitchen spaces, along with nine bedrooms and three full bathrooms.
Where is this triplex located?
The property is located at 23 Jefferson St Worcester, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑unit property with nine bedrooms and three full bathrooms; Three levels with separate living, dining, and kitchen areas in each unit; Hardwood floors throughout all three units
