Five-Unit Residential Income
54 Shelby Street Worcester, MA 01605
54 Shelby Street, Worcester, MA, 01605
$985,000
For Sale
$985,000
Five-unit multifamily building with off-street parking and a shared backyard space.
Property Size6,450 SF
Price / SF$152.71
Days on Market16
Property Features for 54 Shelby Street
General Information
- Standard status
- Active
- Size
- 6,450 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1883
Listing agency
Lamacchia Realty,Inc.
Listed by
The Balestracci Group
(617) 875-4950
Source
Sarkisboston
Added: Jul 6 Updated: Jul 20 at 8:40PM Checked: Jul 20 at 8:40PM
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.
Investment Insights
Based on property information with market context.
Well-suited for investors, this five-unit multifamily residential income building is located at 54 Shelby Street in Worcester, MA. The property includes off-street parking and a shared backyard space for tenants.
A meaningful amenity is already in place for day-to-day living: four of the five units feature in-unit laundry hookups. The remaining unit is part of the same income-producing configuration, offering consistency across the building while delivering laundry functionality in most units.
This is an opportunity to acquire a multi-unit Worcester property with a straightforward layout and tenant-friendly outdoor space, along with in-unit laundry hookups in the majority of units.
A meaningful amenity is already in place for day-to-day living: four of the five units feature in-unit laundry hookups. The remaining unit is part of the same income-producing configuration, offering consistency across the building while delivering laundry functionality in most units.
This is an opportunity to acquire a multi-unit Worcester property with a straightforward layout and tenant-friendly outdoor space, along with in-unit laundry hookups in the majority of units.
Key Highlights
- 1883‑built 5‑unit multifamily building in Worcester
- Off‑street parking included
- Shared backyard space
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 | $166.4k | $25.80 |
| − Vacancy | −$8.3k | −$1.29 |
| EGI | $158.1k | $24.51 |
| − OpEx | −$71.1k | −$11.03 |
| NOI | $86.9k | $13.48 |
6,450 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,949 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,701 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Five-unit multifamily building with off-street parking and a shared backyard space.
Where is this apartment building located?
The property is located at 54 Shelby Street Worcester, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 1883‑built 5‑unit multifamily building in Worcester; Off‑street parking included; Shared backyard space
