24-Unit Apartment Building
3 Ureco Ter, Worcester, MA 01602
For Sale
$4,850,000
Clustered apartment properties share a single private drive in Worcester’s Newton Square/West Side area.
Property Size26,656 SF
Price / SF$181.95
Days on Market125
Property Features for 3 Ureco Ter
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Asking Price
Average Monthly Rent
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
BA Property & Lifestyle Advisors
(508) 852-4227
Listed By:
Michael Barbera
(508) 509-8867
Source:
Exprealty
Added: Jul 8
Changed: Nov 4
Last Checked: Nov 8 at 10:10AM
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
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Investment Insights
Based on property information with market context.
This 24-unit apartment portfolio comprises five properties arranged along one private drive at 827 Pleasant St, 2 Ureco Terrace, 7–9 Ureco Terrace, 831 Pleasant St, and 3 Ureco Terrace. The buildings contain 26,656 square feet in total, with unit counts of 10, 9, 2, 2, and 1, respectively. The portfolio is 95.8% occupied.
Recent capital work includes a full gut renovation at 9 Ureco Terrace in 2025, a kitchen and bathroom upgrade at 2 Ureco Unit 2L in 2023, and boiler replacements. The properties are located in Worcester’s Newton Square/West Side neighborhood, providing a concentrated multifamily footprint rather than a dispersed group of buildings.
Recent capital work includes a full gut renovation at 9 Ureco Terrace in 2025, a kitchen and bathroom upgrade at 2 Ureco Unit 2L in 2023, and boiler replacements. The properties are located in Worcester’s Newton Square/West Side neighborhood, providing a concentrated multifamily footprint rather than a dispersed group of buildings.
Key Highlights
- 24‑unit multifamily portfolio across five properties
- 26,656 square feet across the portfolio
- 95.8% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$359,336
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,186,720
$7.2M
Cap Rate 7%
$5,133,371
$5.1M
Cap Rate 9%
$3,992,622
$4.0M
Market Conditions
NOI Build-Up for 26,656 SF
Gross rent
$687.7K $25.80/SF
− Vacancy
−$34.4K −$1.29/SF
EGI
$653.3K $24.51/SF
− OpEx
−$294.0K −$11.03/SF
NOI
$359.3K $13.48/SF
Area
Worcester, MA
Vacancy
5.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,186,720
Cap Rate 7%
$5,133,371
Cap Rate 9%
$3,992,622
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 authorities.
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Property Analytics
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Lease Details
24
Residential units
95.8%
Occupancy
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 01602, MA
25,382
Population
10,483
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
4,376
Density / Sq Mi
$94,351
Median Household Income
$47,259
Median Earnings
$1,471
Median Rent
$380,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Worcester, MA
Properties on Market for Apartment buildings in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Clustered apartment properties share a single private drive in Worcester’s Newton Square/West Side area.
Where is this apartment building located?
The property is located at 3 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: 24‑unit multifamily portfolio across five properties; 26,656 square feet across the portfolio; 95.8% occupied
