Multifamily Investment Opportunity

70-72 Russell Street, Worcester, MA 01609

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For Sale

$2,495,000

Two buildings with 13 units, recent renovations, and upgrades.

Type:Multi-family

Property size:

12,424 SF

Price / SF:

$200/SF

HighLights

Mix of one, three, and four‑bedroom units across two buildings offers diverse tenant appeal.
Recent capital improvements including vinyl replacement windows, roof replacements (2015), hot water heaters (2021), porch repairs (2024), fire alarm system (2024), and soffit rebuild (2025).
Landlord‑paid central, natural gas‑fired heating & domestic hot water systems for both buildings.
Majority of units renovated following a fire in 70 Russell St in 2023.
Nine off‑street parking spaces available.
Opportunity to install laundry facility at 70 Russell St in former basement laundry room.

We can help!

Listing Contact

Tim McGeary

Learn more

For Sale

$2,495,000

Two buildings with 13 units, recent renovations, and upgrades.

Type:Multi-family

Property size:

12,424 SF

Price / SF:

$200/SF

Added:: Apr 13, 2026
Days on Market:: 57
Last Refresh:: Apr 22 at 7:10 am

Property Features for 70-72 Russell Street

General Information

Standard status: Active
Size: 12,424 SF
Property subtype: Multi-family

Building Details

Year Built: 1910

We can help!

Listing Contact

Tim McGeary

Listing agent Tim McGeary

Listing office Northeast Private Client Group,LLC

Listing date Apr 13, 2026

Source Parksquarerealty

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,LLC

HighLights

Mix of one, three, and four‑bedroom units across two buildings offers diverse tenant appeal.
Recent capital improvements including vinyl replacement windows, roof replacements (2015), hot water heaters (2021), porch repairs (2024), fire alarm system (2024), and soffit rebuild (2025).
Landlord‑paid central, natural gas‑fired heating & domestic hot water systems for both buildings.
Majority of units renovated following a fire in 70 Russell St in 2023.
Nine off‑street parking spaces available.
Opportunity to install laundry facility at 70 Russell St in former basement laundry room.

Overview

The property includes two buildings, one at 70 Russell St with eight units, consisting of four one-bedroom and four three-bedroom units, and another at 72 Russell St with five units, consisting of two one-bedroom and three four-bedroom units. Both buildings are serviced by central, natural gas-fired heating and domestic hot water systems, with the landlord responsible for the cost. Tenants are responsible for electricity in both properties. The building at 70 Russell St features gas cooking, paid for by the landlord. A total of nine off-street parking spaces are available. While there is currently no laundry facility at 70 Russell St, a former basement laundry room offers an opportunity for installation. The units at 72 Russell St include washer and dryer hookups in the four-bedroom layouts. Recent capital improvements include vinyl replacement windows, flat rubber roof replacements in 2015, hot water heaters in 2021, porch repairs in 2024, installation of a fire alarm system in 2024, and soffit rebuild and replacement planned for 2025. The majority of units have been renovated following a fire at 70 Russell St in 2023. The property size is 12424 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$320.5k	$25.80
− Vacancy	−$16.0k	−$1.29
EGI	$304.5k	$24.51
− OpEx	−$137.0k	−$11.03
NOI	$167.5k	$13.48

12,424 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,482 @ 7.0% cap · market cap 6.71%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.15M

$3.63M – $4.84M (±1% cap)

NOI $290,280 @ 7.0% cap · market cap 11.63%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Worcester
County: Worcester
State: Massachusetts
Longitude: -71.8147221
Latitude: 42.2650365

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For sale
Apartment buildings
MA
Worcester
01609
70-72 Russell Street

What type of property is this?

Apartment building - Two buildings with 13 units, recent renovations, and upgrades.

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 $2,495,000.

What are key features of this property?

This property features: Mix of one, three, and four‑bedroom units across two buildings offers diverse tenant appeal.; Recent capital improvements including vinyl replacement windows, roof replacements (2015), hot water heaters (2021), porch repairs (2024), fire alarm system (2024), and soffit rebuild (2025).; Landlord‑paid central, natural gas‑fired heating & domestic hot water systems for both buildings.