Triplex with Spacious
5 Flower St, Worcester, MA 01604
For Sale
$600,000
The three apartments feature wood moldings, living rooms, formal dining rooms, and eat-in kitchens.
Property Size1,920 SF
Price / SF$148.15
Days on Market9
Property Features for 5 Flower St
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
backyard
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Lamacchia Realty, Inc.
(508) 425-7372
Listed By:
Amankae Ambia
(917) 519-8083
Source:
Iverty
Added: Nov 1
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 Lamacchia Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 1920, this three-unit Worcester property has a classic multi-family layout. Each apartment includes wood moldings, a living room, formal dining room, and eat-in kitchen. The first-floor apartment is in good condition; the upper two floors offer scope for updates. In the first-floor unit, the second bedroom is arranged as a sitting room and the third as a home office. The property will be delivered vacant, with no current leases.
Outdoor features include a spacious backyard and off-street parking. Polar Park, downtown Worcester, restaurants, and shopping are nearby.
Outdoor features include a spacious backyard and off-street parking. Polar Park, downtown Worcester, restaurants, and shopping are nearby.
Key Highlights
- Three apartments, each with a living room, formal dining room, eat‑in kitchen, and wood moldings
- 1920 construction
- First‑floor apartment is in good condition; upper floors offer potential for updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,596
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,091,920
$1.1M
Cap Rate 7%
$779,943
$779.9K
Cap Rate 9%
$606,622
$606.6K
Market Conditions
NOI Build-Up for 4,050 SF
Gross rent
$104.5K $25.80/SF
− Vacancy
−$5.2K −$1.29/SF
EGI
$99.3K $24.51/SF
− OpEx
−$44.7K −$11.03/SF
NOI
$54.6K $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%
$1,091,920
Cap Rate 7%
$779,943
Cap Rate 9%
$606,622
Alternative Uses
Best Use
Multifamily LT 5
$849.6K
$743.4K – $991.3K
NOI $59,475 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$779.9K
$682.5K – $909.9K
NOI $54,596 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,626 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
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Business Placement
Demographics for 01604, MA
41,301
Population
18,166
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
86%
High-School Grad
6.6 sq mi
ZIP Area
6,258
Density / Sq Mi
$72,911
Median Household Income
$45,596
Median Earnings
$1,570
Median Rent
$321,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Worcester, MA
Properties on Market for Triplexes in Worcester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three apartments feature wood moldings, living rooms, formal dining rooms, and eat-in kitchens.
Where is this triplex located?
The property is located at 5 Flower St Worcester, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three apartments, each with a living room, formal dining room, eat‑in kitchen, and wood moldings; 1920 construction; First‑floor apartment is in good condition; upper floors offer potential for updates
