Rare Triplex with 4-Car
54 Freeland St Worcester, MA 01603
54 Freeland St, Worcester, MA, 01603
$599,999
Pending
For Sale
$599,999
Pending
Income-focused triplex near Clark University, featuring a rare four-car garage and flexible living for multiple households.
Property Size3,768 SF
Lot Size0.15 Acres
Days on Market53
Property Features for 54 Freeland St
General Information
- Standard status
- Pending
- Size
- 3,768 SF
- Lot size
- 0.15 Acres
- Property subtype
- 3 Family
Building Details
- Year Built
- 1910
Listing Agency
Keller Williams Pinnacle Central
(508) 615-0309
Listed by
Klaudia Dang · License #453003644
(508) 615-0309
Source
Lockandkeyre
Added: May 29 Checked: Jul 20 at 4:48 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 Keller Williams Pinnacle Central
Investment Insights
Based on property information with market context.
This income-oriented triplex offers 9 bedrooms and 3 full baths, providing an adaptable layout for strong rental revenue or multi-generational living. A standout feature is the rare 4-car garage, adding valuable off-street parking capacity that can help differentiate the property in a campus-adjacent rental market. The configuration supports a practical mix of bedrooms and full bath access across the residence.
Located in the Clark University neighborhood, the property is positioned within walking distance of Clark University, University Park Campus School, nearby dining, and transit. Off-street parking can be especially useful when demand is driven by student and faculty schedules. The area’s convenience to campus-related destinations makes the home appealing to renters seeking day-to-day access without long commutes.
For buyers and operators, this is a compelling option for anyone looking to stabilize income with a property that offers both flexible bedroom count and premium parking. Long-term residents may also qualify for Clark’s University Park Partnership tuition scholarship, subject to eligibility and admission requirements and a 5+ year residency. Whether your goal is maximizing rental income or accommodating extended household needs, the combination of unit capacity and the rare 4-car garage supports a distinctive, tenant-friendly offering.
Located in the Clark University neighborhood, the property is positioned within walking distance of Clark University, University Park Campus School, nearby dining, and transit. Off-street parking can be especially useful when demand is driven by student and faculty schedules. The area’s convenience to campus-related destinations makes the home appealing to renters seeking day-to-day access without long commutes.
For buyers and operators, this is a compelling option for anyone looking to stabilize income with a property that offers both flexible bedroom count and premium parking. Long-term residents may also qualify for Clark’s University Park Partnership tuition scholarship, subject to eligibility and admission requirements and a 5+ year residency. Whether your goal is maximizing rental income or accommodating extended household needs, the combination of unit capacity and the rare 4-car garage supports a distinctive, tenant-friendly offering.
Key Highlights
- Income‑focused triplex near Clark University in the Clark University neighborhood
- Year built 1910 with 9 bedrooms and 3 full baths
- Off‑street parking includes a rare 4‑car garage
Local Financial Insights For Apartment 5plus
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 | $97.2k | $25.80 |
| − Vacancy | −$4.9k | −$1.29 |
| EGI | $92.4k | $24.51 |
| − OpEx | −$41.6k | −$11.03 |
| NOI | $50.8k | $13.48 |
3,768 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$790.5K
$691.7K – $922.2K
NOI $55,334 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$725.6K
$634.9K – $846.6K
NOI $50,795 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,037 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Income-focused triplex near Clark University, featuring a rare four-car garage and flexible living for multiple households.
Where is this triplex located?
The property is located at 54 Freeland St Worcester, MA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Income‑focused triplex near Clark University in the Clark University neighborhood; Year built 1910 with 9 bedrooms and 3 full baths; Off‑street parking includes a rare 4‑car garage
