Three-Family Residential Income
For Sale
$749,000
60 Esther St, Worcester, MA 01607
Spacious three-unit building with nine bedrooms, three full baths, and recently completed roof replacement.
Property Size4,041 SF
Price / SF$185.35
Days on Market129
Property Features for 60 Esther St
General Information
Standard status
Active
Size
4,041 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
RG-5
Net Operating Income
$64,700
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,813
Building Details
Building Size
4,041 SF
Year Built
1900
Stories
6
Tenancy
Multi
Listing Agency:
Phoenix Real Estate Partners, LLC
(617) 335-2372
Listed By:
Jiasen Niu
(617) 580-6294
Source:
Churchillprop
Added: Jun 16
Changed: Oct 6
Last Checked: Oct 20 at 7:04PM
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 Phoenix Real Estate Partners, LLC
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Investment Insights
Based on property information with market context.
This three-family residential income property offers approximately 4,041 sq. ft. of living area with nine bedrooms and three full baths. Each unit features generous rooms and a functional layout. The seller has completed a complete roof replacement, including new shingles, underlayment, ice and water shield, gutters, fascia, soffits, downspouts, and updated flashing. Additional recent updates include a Unit 3 parlor heater, a Unit 2 washer and dryer, a Unit 1 refrigerator, and one replaced hot water tank.
The property is conveniently located near the Shoppes at Blackstone and provides easy access to Routes 146 and 20. There is one off-street parking space available.
The building is configured as three separate residential units, supporting an owner looking for a multi-unit setup with documented exterior and select in-unit improvements.
The property is conveniently located near the Shoppes at Blackstone and provides easy access to Routes 146 and 20. There is one off-street parking space available.
The building is configured as three separate residential units, supporting an owner looking for a multi-unit setup with documented exterior and select in-unit improvements.
Key Highlights
- Spacious 3‑family property with 9 bedrooms, 3 full baths, and approx. 4,041 sq. ft. of living area
- Complete roof replacement completed with new shingles, underlayment, ice & water shield, gutters, fascia, soffits, downspouts, and updated flashing
- Recent unit updates include Unit 3 parlor heater, Unit 2 washer and dryer, and Unit 1 refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,343
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,860
$1.2M
Cap Rate 7%
$847,757
$847.8K
Cap Rate 9%
$659,367
$659.4K
Market Conditions
NOI Build-Up for 4,041 SF
Gross rent
$89.7K $22.20/SF
− Vacancy
−$4.9K −$1.22/SF
EGI
$84.8K $20.98/SF
− OpEx
−$25.4K −$6.29/SF
NOI
$59.3K $14.69/SF
Area
Worcester, MA
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,860
Cap Rate 7%
$847,757
Cap Rate 9%
$659,367
Alternative Uses
Best Use
Multifamily LT 5
$847.8K
$741.8K – $989.1K
NOI $59,343 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,416 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
445
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Spacious three-unit building with nine bedrooms, three full baths, and recently completed roof replacement.
Where is this triplex located?
The property is located at 60 Esther St Worcester, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Spacious 3‑family property with 9 bedrooms, 3 full baths, and approx. 4,041 sq. ft. of living area; Complete roof replacement completed with new shingles, underlayment, ice & water shield, gutters, fascia, soffits, downspouts, and updated flashing; Recent unit updates include Unit 3 parlor heater, Unit 2 washer and dryer, and Unit 1 refrigerator
