Triplex for
31 Lee St Worcester, MA 01602
31 Lee St, Worcester, MA, 01602
$920,000
Pending
For Sale
$920,000
Pending
Three-unit multifamily property offered for sale in Worcester, MA.
Property Size3,444 SF
Days on Market21
Property Features for 31 Lee St
General Information
- Standard status
- Pending
- Size
- 3,444 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1901
Listing agency
Douglas Elliman Real Estate - Park Plaza
(617) 800-9008
Listed by
Brody Murphy Novak Group
(617) 800-9008
Source
Lockandkeyre
Added: Jul 1 Updated: Jul 20 at 4:04AM Checked: Jul 21 at 3:21AM
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 Douglas Elliman Real Estate - Park Plaza
Investment Insights
Based on property information with market context.
This triplex is being offered for sale and provides residential income property investors with three separate units under one ownership. The property totals approximately 3,444 square feet.
The asset is located at 31 Lee St in Worcester, Massachusetts (01602). For tenants and buyers evaluating multifamily opportunities, it offers a straightforward three-unit configuration within a single building.
Additional unit-level details, including specific layouts, finishes, and current tenancy, are not provided in the available information. Interested parties should request further documentation to review income potential and property condition.
The asset is located at 31 Lee St in Worcester, Massachusetts (01602). For tenants and buyers evaluating multifamily opportunities, it offers a straightforward three-unit configuration within a single building.
Additional unit-level details, including specific layouts, finishes, and current tenancy, are not provided in the available information. Interested parties should request further documentation to review income potential and property condition.
Key Highlights
- Three‑unit multifamily property in Worcester, MA
- Built in 1901
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 | $76.5k | $22.20 |
| − Vacancy | −$4.2k | −$1.22 |
| EGI | $72.3k | $20.98 |
| − OpEx | −$21.7k | −$6.29 |
| NOI | $50.6k | $14.69 |
3,444 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$722.5K
$632.2K – $842.9K
NOI $50,576 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$663.2K
$580.3K – $773.8K
NOI $46,427 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,467 @ 7.0% cap · market cap 8.75%
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?
Triplex - Three-unit multifamily property offered for sale in Worcester, MA.
Where is this triplex located?
The property is located at 31 Lee St Worcester, MA.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Three‑unit multifamily property in Worcester, MA; Built in 1901
