4-Unit Multifamily
5-7 Thenius St, Worcester, MA 01607
For Sale
$899,900
Two buildings contain a mix of two- and three-bedroom apartments with off-street parking.
Property Size1,890 SF
Price / SF$249.97
Days on Market20
Property Features for 5-7 Thenius St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Lease Term
Site & Location
Neighborhood
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Byrnes Real Estate Group LLC
(833) 429-7637
Listed By:
Cassidy May Jacobs
(774) 708-0144
Source:
Iverty
Added: Oct 21
Changed: Nov 8
Last Checked: Nov 8 at 6:51AM
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 Byrnes Real Estate Group LLC
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Investment Insights
Based on property information with market context.
At 5-7 Thenius St in Worcester, this 3,600-square-foot multifamily property comprises two buildings and four apartments: two units with two bedrooms and one bathroom each, plus two units with three bedrooms and one bathroom each. Eight off-street parking spaces serve the property. Unit 7-1 is scheduled to be vacant at closing. The property is lead-certified, and updates include flooring, kitchens, bathrooms, windows, heating systems, and hot water heaters.
Both roofs were replaced in 2006/2007. In 2016, the roof structure on Building 7 was reinforced during solar installation. The property is near schools, shopping, public transportation, I-290, Route 146, and the Mass Pike. The buildings date to 1890.
Both roofs were replaced in 2006/2007. In 2016, the roof structure on Building 7 was reinforced during solar installation. The property is near schools, shopping, public transportation, I-290, Route 146, and the Mass Pike. The buildings date to 1890.
Key Highlights
- Four apartments across two buildings: two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units
- Eight off‑street parking spaces
- Unit 7‑1 will be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,530
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,600
$970.6K
Cap Rate 7%
$693,286
$693.3K
Cap Rate 9%
$539,222
$539.2K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$92.9K $25.80/SF
− Vacancy
−$4.6K −$1.29/SF
EGI
$88.2K $24.51/SF
− OpEx
−$39.7K −$11.03/SF
NOI
$48.5K $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%
$970,600
Cap Rate 7%
$693,286
Cap Rate 9%
$539,222
Alternative Uses
Best Use
Apartment 5plus
$693.3K
$606.6K – $808.8K
NOI $48,530 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,112 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 01607, MA
9,378
Population
4,172
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
3,126
Density / Sq Mi
$66,365
Median Household Income
$46,300
Median Earnings
$1,356
Median Rent
$341,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Worcester, MA
Properties on Market for Multifamily properties in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings contain a mix of two- and three-bedroom apartments with off-street parking.
Where is this multifamily property located?
The property is located at 5-7 Thenius St Worcester, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Four apartments across two buildings: two 2‑bedroom, 1‑bath units and two 3‑bedroom, 1‑bath units; Eight off‑street parking spaces; Unit 7‑1 will be vacant at closing
