Updated Three-Family
23 Woodford Street Worcester, MA 01604
23 Woodford Street, Worcester, MA, 01604
$864,900
For Sale
$864,900
Well-maintained three-family with newer roof, some updated windows, and off-street parking plus a 3-car garage.
Property Size4,207 SF
Price / SF$205.59
Days on Market25
Property Features for 23 Woodford Street
General Information
- Standard status
- Active
- Size
- 4,207 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Pablo Maia Realty
Listed by
Rodrigo Azevedo
(617) 694-0004
Source
Somervillelofts
Added: Jun 28 Updated: Jul 21 at 2:11AM Checked: Jul 22 at 7:47AM
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 Pablo Maia Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family residential property is designed for steady rental income, with updates to each unit completed in recent years. The home features a newer roof and some updated windows, supporting a more durable, move-forward profile. Off-street parking is available, along with a 3-car garage for additional convenience.
The property is located near schools, shopping, and public transportation, providing practical everyday access for residents.
With its three separate units and recent interior improvements, this offering is positioned for buyers looking for a straightforward multifamily layout in a largely residential setting.
The property is located near schools, shopping, and public transportation, providing practical everyday access for residents.
With its three separate units and recent interior improvements, this offering is positioned for buyers looking for a straightforward multifamily layout in a largely residential setting.
Key Highlights
- Well‑maintained 3‑family home built in 1920
- Newer roof and some updated windows
- Off‑street parking plus a 3‑car garage
Local Financial Insights For Multifamily LT 5
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 | $93.4k | $22.20 |
| − Vacancy | −$5.1k | −$1.22 |
| EGI | $88.3k | $20.98 |
| − OpEx | −$26.5k | −$6.29 |
| NOI | $61.8k | $14.69 |
4,207 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$882.6K
$772.3K – $1.03M
NOI $61,781 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,712 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,294 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family with newer roof, some updated windows, and off-street parking plus a 3-car garage.
Where is this triplex located?
The property is located at 23 Woodford Street Worcester, MA.
What is the asking price?
The asking price for this property is $864,900.
What are key features of this property?
This property features: Well‑maintained 3‑family home built in 1920; Newer roof and some updated windows; Off‑street parking plus a 3‑car garage
