Worcester Multifamily Investment
70-72 Russell Street, Worcester, MA 01609
Thirteen-unit multifamily property in Worcester, Massachusetts with value-add potential.
Type:Multifamily
Property size:
12,424 SFPrice / SF:
$207/SF- Added:
- Feb 17, 2026
- Days on Market:
- 84
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 70-72 Russell Street
General Information
- Standard status
- Active
- Size
- 12,424 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing agent Taylor Perun License #MA134963
Listing office NorthEast Private Client Group Shelton
Listing date Feb 17, 2026
Source Crexi
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 NorthEast Private Client Group Shelton
HighLights
- Stabilized asset with demonstrated rental upside of 15% below market, a potential $265/unit/month increase.
- Substantial recent capital improvements including roof replacements, boiler replacement, new hot water heaters, porch repairs, new fire alarm system, and soffit rebuild/replacement.
- Desirable unit mix of thirteen units total, including a mix of one-, three-, and four‑bedroom apartments.
- Convenient location near local colleges, major medical facilities, and employment centers.
- Nine off‑street parking spaces.
- Opportunity for income enhancement by reactivating the former basement laundry room.
Overview
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.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Worcester
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.8147221
- Latitude
- 42.2650365
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Thirteen-unit multifamily property in Worcester, Massachusetts with value-add potential.
Where is this apartment building located?
The property is located at 70-72 Russell Street Worcester, MA.
What is the asking price?
The asking price for this property is $2,580,000.
What are key features of this property?
This property features: Stabilized asset with demonstrated rental upside of 15% below market, a potential $265/unit/month increase.; Substantial recent capital improvements including roof replacements, boiler replacement, new hot water heaters, porch repairs, new fire alarm system, and soffit rebuild/replacement.; Desirable unit mix of thirteen units total, including a mix of one-, three-, and four‑bedroom apartments.
