Three-Unit Residential
440 Park Ave Worcester, MA 01610
For Sale
$799,900
Three-unit residential income property with off-street parking and on-site signage visibility in a business-zoned district.
Property Size3,222 SF
Price / SF$248.26
Days on Market100
Property Features for 440 Park Ave
General Information
- Standard status
- Active
- Size
- 3,222 SF
Building Details
- Year Built
- 1900
Listing Agency:
Quinsigamond Realty
(508) 579-7777
Listed By:
Michael Madulka · License #454500647
Source:
Insightrealtygroup
Added: Apr 16
Changed: Jul 23
Last Checked: Jul 23 at 3:28AM
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 Quinsigamond Realty
Investment Insights
Based on property information with market context.
This three-unit residential property offers a single building with three income-producing units and ample off-street parking. The exterior includes on-site signage visibility, supporting visibility for approved business uses in the area.
Located at 440 Park Ave in Worcester, MA, the property is described as being in a high-traffic area with convenient access to local amenities, major routes, and commercial services. The seller’s remarks emphasize the flexibility created by the business-zoned district, which can be attractive to a range of ownership scenarios, including investor and owner-occupant options, as well as future redevelopment considerations.
Located at 440 Park Ave in Worcester, MA, the property is described as being in a high-traffic area with convenient access to local amenities, major routes, and commercial services. The seller’s remarks emphasize the flexibility created by the business-zoned district, which can be attractive to a range of ownership scenarios, including investor and owner-occupant options, as well as future redevelopment considerations.
Key Highlights
- Three‑unit residential income property
- Business‑zoned district for approved business uses
- Ample off‑street parking
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 | $71.5k | $22.20 |
| − Vacancy | −$3.9k | −$1.22 |
| EGI | $67.6k | $20.98 |
| − OpEx | −$20.3k | −$6.29 |
| NOI | $47.3k | $14.69 |
3,222 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$675.9K
$591.5K – $788.6K
NOI $47,316 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$620.5K
$542.9K – $723.9K
NOI $43,434 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.08M
$941.0K – $1.25M
NOI $75,280 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Central Mass Evaluations ...
Real Estate Agency
Apple Valley Insurance
Law Firm
FAQs
What type of property is this?
Triplex - Three-unit residential income property with off-street parking and on-site signage visibility in a business-zoned district.
Where is this triplex located?
The property is located at 440 Park Ave Worcester, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three‑unit residential income property; Business‑zoned district for approved business uses; Ample off‑street parking
