11-Unit Apartment
New
For Sale
$2,200,000
256 Worcester Street, West Boylston, MA 01583
All apartments have a one-bedroom layout, and the property is fully occupied.
Property Size6,200 SF
Days on Market7
Property Features for 256 Worcester Street
General Information
Standard status
Active
Size
6,200 SF
Property subtype
5+ Family - 5+ Units Up/Down
Occupancy
100%
Units
Unit Mix
11 x 1BR
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$12,892
Building Details
Building Size
6,200 SF
Year Built
1965
Buildings
1
Listing Agency:
BENJAMIN Apartments + Cityside Homes
Listed By:
Ben Robbie · License #9513872
(508) 254-3832
Source:
Donnellyandco
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 15 at 6:05AM
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 BENJAMIN Apartments + Cityside Homes
Investment Insights
Based on property information with market context.
Located at 256 Worcester Street in West Boylston, this 6,200-square-foot apartment property contains 11 one-bedroom units. The building dates to 1965 and is fully occupied.
Property improvements include a recent roof, a new sewer main, and a paved driveway.
Property improvements include a recent roof, a new sewer main, and a paved driveway.
Key Highlights
- 11 apartments, each with one bedroom
- 6,200 square feet in a building constructed in 1965
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,937
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,458,740
$1.5M
Cap Rate 7%
$1,041,957
$1.0M
Cap Rate 9%
$810,411
$810.4K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$136.2K $21.96/SF
− Vacancy
−$3.5K −$0.57/SF
EGI
$132.6K $21.39/SF
− OpEx
−$59.7K −$9.63/SF
NOI
$72.9K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,458,740
Cap Rate 7%
$1,041,957
Cap Rate 9%
$810,411
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$911.7K – $1.22M
NOI $72,937 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,205 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
11
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 01583, MA
7,652
Population
2,946
Households
2.6
Avg Household Size
45
Median Age
42%
College-Educated
92%
High-School Grad
12.6 sq mi
ZIP Area
607
Density / Sq Mi
$100,427
Median Household Income
$58,724
Median Earnings
$1,248
Median Rent
$399,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - All apartments have a one-bedroom layout, and the property is fully occupied.
Where is this apartment building located?
The property is located at 256 Worcester Street West Boylston, MA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 11 apartments, each with one bedroom; 6,200 square feet in a building constructed in 1965; Fully occupied
