Two-Unit Garage and Studio
44 Ellsworth Street Worcester, MA 01610
44 Ellsworth Street, Worcester, MA, 01610
$300,000
For Sale
$300,000
Functional garage with a 10-foot overhead door plus a studio apartment supports both work and rental or owner-occupant use.
Property Size1,352 SF
Price / SF$221.89
Days on Market45
Property Features for 44 Ellsworth Street
General Information
- Standard status
- Active
- Size
- 1,352 SF
Building Details
- Year Built
- 1998
Listing Agency
RE/MAX Partners
Listed by
James Kalogeropoulos
Source
413realestate
Added: Jun 5 Checked: Jul 19 at 3:00 am
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This two-unit property combines a practical garage space with an upstairs one-bedroom studio apartment. The garage is equipped with a 10-foot overhead door and a man door for convenient access, along with 200-amp electrical service to support day-to-day operations for storage or light work needs. A fenced-in layout and ample on-site parking add usability and help define secure, functional outdoor space.
The second level includes a studio apartment with gas forced hot air heat, offering flexibility for owner occupancy, a live/work setup, or rental use. The configuration supports a straightforward separation between the ground-floor garage area and the residential unit above.
For contractors, trades, or storage-focused users, the garage’s overhead door access and electrical capacity provide a ready-to-operate workspace. Investors and owner-users can also value the dual-income structure of garage space paired with a residential unit, with the option to occupy the studio while leveraging the garage as a separate utility for work or storage.
The second level includes a studio apartment with gas forced hot air heat, offering flexibility for owner occupancy, a live/work setup, or rental use. The configuration supports a straightforward separation between the ground-floor garage area and the residential unit above.
For contractors, trades, or storage-focused users, the garage’s overhead door access and electrical capacity provide a ready-to-operate workspace. Investors and owner-users can also value the dual-income structure of garage space paired with a residential unit, with the option to occupy the studio while leveraging the garage as a separate utility for work or storage.
Key Highlights
- 1998‑built two‑unit property with a functional garage and a one‑bedroom studio apartment on the second level
- Garage has a 10‑foot overhead door and man door access, with 200‑amp electrical service
- Studio apartment features gas forced hot air heat
Local Financial Insights For Office B
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 | $36.5k | $27.00 |
| − Vacancy | −$6.6k | −$4.86 |
| EGI | $29.9k | $22.14 |
| − OpEx | −$7.5k | −$5.54 |
| NOI | $22.4k | $16.61 |
1,352 SF · lease $27.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$320.7K
$280.6K – $374.2K
NOI $22,450 @ 7.0% cap · market cap 7.48%
Second Best
Multifamily LT 5
$283.6K
$248.2K – $330.9K
NOI $19,855 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$451.3K
$394.9K – $526.5K
NOI $31,589 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Functional garage with a 10-foot overhead door plus a studio apartment supports both work and rental or owner-occupant use.
Where is this live-work space located?
The property is located at 44 Ellsworth Street Worcester, MA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1998‑built two‑unit property with a functional garage and a one‑bedroom studio apartment on the second level; Garage has a 10‑foot overhead door and man door access, with 200‑amp electrical service; Studio apartment features gas forced hot air heat
