24-Unit Clustered Multifamily
3 Ureco Ter Portfolio Worcester, MA 01602
3 Ureco Ter Portfolio, Worcester, MA, 01602
$4,850,000
For Sale
$4,850,000
Portfolio includes five properties totaling 24 units along a single private drive, with 95.8% occupancy.
Property Size26,656 SF
Price / SF$181.95
Days on Market20
Property Features for 3 Ureco Ter Portfolio
General Information
- Standard status
- Active
- Size
- 26,656 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
BA Property & Lifestyle Advisors
Listed by
Michael Barbera
(617) 846-8000
Source
Highlandre
Added: Jul 2 Updated: Jul 20 at 11:41PM Checked: Jul 20 at 11:41PM
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 24-unit multifamily portfolio includes five properties: 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). All buildings are situated along a single private drive, supporting concentrated, operations-focused ownership. The portfolio is reported at 95.8% occupied, with gross scheduled rent of $475,800 annually and stabilized NOI of $240,197. Average in-place rent is $1,724 per month.
Recent capital improvements are noted at approximately $395,000, including a full gut renovation at 9 Ureco Terrace in 2025 and kitchen/bath upgrades at 2 Ureco Unit 2L in 2023, along with boiler replacements. The offering is positioned in Worcester’s Newton Square/West Side neighborhood.
Recent capital improvements are noted at approximately $395,000, including a full gut renovation at 9 Ureco Terrace in 2025 and kitchen/bath upgrades at 2 Ureco Unit 2L in 2023, along with boiler replacements. The offering is positioned in Worcester’s Newton Square/West Side neighborhood.
Key Highlights
- Clustered 24‑unit multifamily portfolio in Worcester’s Newton Square/West Side, located across five properties along a single private drive
- 95.8% occupied portfolio with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197
- Average in‑place rent of $1,724/month across the 24 units
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
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FAQs
What type of property is this?
Apartment building - Portfolio includes five properties totaling 24 units along a single private drive, with 95.8% occupancy.
Where is this apartment building located?
The property is located at 3 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: Clustered 24‑unit multifamily portfolio in Worcester’s Newton Square/West Side, located across five properties along a single private drive; 95.8% occupied portfolio with gross scheduled rent of $475,800/yr and stabilized NOI of $240,197; Average in‑place rent of $1,724/month across the 24 units
