Three-Unit Residential Income
35 North Street Worcester, MA 01605
35 North Street, Worcester, MA, 01605
$649,999
For Sale
$649,999
De-leaded 3-family with 2022 unit renovations, including new kitchens, baths, and appliances.
Property Size2,244 SF
Price / SF$289.66
Days on Market74
Property Features for 35 North Street
General Information
- Standard status
- Active
- Size
- 2,244 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
Property Investors & Advisors,LLC
Listed by
Brian Allen
(617) 396-3100
Source
Longwoodresidential
Added: May 9 Updated: Jul 21 at 7:06AM Checked: Jul 21 at 7:06AM
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 Property Investors & Advisors,LLC
Investment Insights
Based on property information with market context.
This de-leaded three-unit residential income property features renovations completed in 2022, including updated kitchens, bathrooms, and appliances. Heating and cooling are provided via mini-split systems on each floor. The first-floor unit is vacant, allowing an immediate move-in or readying the unit for occupancy.
The building is located in Worcester’s Poet Hill neighborhood, about 0.2 miles from Trolley Yard, with quick access to downtown. The listing notes easy showings, and indicates that two adjacent similar properties are also available for sale.
Overall, the configuration is a three-family structure with individually supported climate control and refreshed in-unit finishes from 2022.
The building is located in Worcester’s Poet Hill neighborhood, about 0.2 miles from Trolley Yard, with quick access to downtown. The listing notes easy showings, and indicates that two adjacent similar properties are also available for sale.
Overall, the configuration is a three-family structure with individually supported climate control and refreshed in-unit finishes from 2022.
Key Highlights
- De‑leaded 3‑family built in 1910, with vacant first floor for easy move‑in or immediate use
- Units redone in 2022 with new kitchens, baths, and appliances
- Mini‑splits installed on each floor for heat and AC
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 | $49.8k | $22.20 |
| − Vacancy | −$2.7k | −$1.22 |
| EGI | $47.1k | $20.98 |
| − OpEx | −$14.1k | −$6.29 |
| NOI | $33.0k | $14.69 |
2,244 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$470.8K
$411.9K – $549.2K
NOI $32,954 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$432.1K
$378.1K – $504.2K
NOI $30,250 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$749.0K
$655.4K – $873.8K
NOI $52,430 @ 7.0% cap · market cap 8.07%
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 - De-leaded 3-family with 2022 unit renovations, including new kitchens, baths, and appliances.
Where is this triplex located?
The property is located at 35 North Street Worcester, MA.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: De‑leaded 3‑family built in 1910, with vacant first floor for easy move‑in or immediate use; Units redone in 2022 with new kitchens, baths, and appliances; Mini‑splits installed on each floor for heat and AC
