70-72 Russell St Worcester, MA 01609

The Russell Street Apartments, located in Worcester, Massachusetts, consist of two adjacent residential buildings at 70 and 72 Russell Street. The property comprises a total of thirteen units. The building at 70 Russell Street contains eight units, including four one-bedroom and four three-bedroom apartments. The building at 72 Russell Street contains five units, consisting of two one-bedroom and three four-bedroom apartments. Both buildings are serviced by central, natural gas–fired heating and domestic hot water systems, with utility costs paid by the landlord. Tenants are separately metered and responsible for electricity in both properties. Units at 70 Russell Street feature gas cooking appliances, with gas usage paid by tenants. The properties offer a total of nine off-street parking spaces. There is currently no laundry facility at 70 Russell Street; however, a former basement laundry room presents an opportunity for income enhancement through reactivation. Units at 72 Russell Street include washer and dryer hookups in the three-/four-bedroom layouts. The properties have benefited from substantial capital investment during the current ownership period. Improvements include vinyl replacement windows throughout, flat rubber roof replacements in 2015, central boiler replacement in 2016, new hot water heaters in 2021, porch repairs in 2024, installation of a new fire alarm system in 2024, and a full soffit rebuild and replacement planned for 2025. The majority of units have been renovated, including three units that were completely rebuilt following a fire in 2023. The property's proximity to local colleges, major medical facilities, and employment centers supports consistent rental demand. Recent higher-end residential development in the surrounding area has begun to anchor the neighborhood, providing a competitive advantage for offering more affordable rental units.