Residential Income
64 Fruit Street Worcester, MA 01609
64 Fruit Street, Worcester, MA, 01609
$750,000
For Sale
$750,000
Turn-key multifamily property near WPI with off-street parking and a lease in place through June 2027.
Property Size3,563 SF
Price / SF$210.50
Days on Market71
Property Features for 64 Fruit Street
General Information
- Standard status
- Active
- Size
- 3,563 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing agency
Mark Abasciano Real Estate
Listed by
Mark Abasciano
(978) 537-8301
Source
Foster-healey
Added: May 14 Updated: Jul 22 at 6:07AM Checked: Jul 22 at 6:07AM
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 Mark Abasciano Real Estate
Investment Insights
Based on property information with market context.
This residential income property is described as clean and in good condition, with a long-standing owner and management history of regular maintenance and good tenant continuity. The property has been leased to the WPI Ski Team for a few decades and is available to continue under the existing arrangement. Off-street parking is provided at one space per floor.
The asset is located in close proximity to WPI as well as restaurants and a grocery store. The current lease is stated to run through June 2027 at rents described as below market.
The offering is noted as buy-with or separately with 66 Fruit St. Group showings are scheduled for Tuesday, May 19th from 12:30 to 3:30 by appointment only.
The asset is located in close proximity to WPI as well as restaurants and a grocery store. The current lease is stated to run through June 2027 at rents described as below market.
The offering is noted as buy-with or separately with 66 Fruit St. Group showings are scheduled for Tuesday, May 19th from 12:30 to 3:30 by appointment only.
Key Highlights
- Year built: 1890
- Multifamily property leased to the WPI Ski Team for a few decades, with a lease in place through June 2027
- Off‑street parking included with one space per floor
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 | $91.9k | $25.80 |
| − Vacancy | −$4.6k | −$1.29 |
| EGI | $87.3k | $24.51 |
| − OpEx | −$39.3k | −$11.03 |
| NOI | $48.0k | $13.48 |
3,563 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$686.2K
$600.4K – $800.5K
NOI $48,031 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,248 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Ski Haus
Film Production
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Turn-key multifamily property near WPI with off-street parking and a lease in place through June 2027.
Where is this multifamily property located?
The property is located at 64 Fruit Street Worcester, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Year built: 1890; Multifamily property leased to the WPI Ski Team for a few decades, with a lease in place through June 2027; Off‑street parking included with one space per floor
