Seven-Unit Apartment
New
For Sale
$1,349,995
75 Chatham St, Worcester, MA 01609
Fully renovated seven-unit with individually metered utilities, coin-op laundry, and off-street parking including a two-bay garage.
Days on Market4
Property Features for 75 Chatham St
General Information
Standard status
Active
Total Parking Spaces
12
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$136,644
Multifamily Units
7
Amenities
coin-op laundry
Building Details
Building Size
6,358 SF
Year Built
1905
Buildings
1
Listing Agency:
eXp Realty LLC
(978) 710-5616
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Aug 1 at 6:09AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Fully renovated seven-unit apartment building built in 1905 at 75 Chatham St. The property includes new heating systems in five units, with each unit renovated. Parking is a standout for the area, featuring a two-bay garage with a loft above plus 10 off-street spaces. Coin-op laundry on site supports additional resident convenience.
Operationally, all utilities are individually metered, which can help keep ownership expenses predictable. A walk-up attic adds flexibility, with potential for future finish-out.
The building is described as being near public transportation, shopping, and medical facilities. WalkScore is 94 and transitScore is 44, with bikeScore of 52, supporting everyday accessibility for tenants.
Operationally, all utilities are individually metered, which can help keep ownership expenses predictable. A walk-up attic adds flexibility, with potential for future finish-out.
The building is described as being near public transportation, shopping, and medical facilities. WalkScore is 94 and transitScore is 44, with bikeScore of 52, supporting everyday accessibility for tenants.
Key Highlights
- Seven units with renovations throughout
- Five heating systems newly installed
- Two‑bay garage with loft above plus 10 off‑street parking spaces
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 | $164.0k | $25.80 |
| − Vacancy | −$8.2k | −$1.29 |
| EGI | $155.8k | $24.51 |
| − OpEx | −$70.1k | −$11.03 |
| NOI | $85.7k | $13.48 |
6,358 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,709 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,551 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,799
Businesses Nearby
Explore this area
Business Placement
Demographics for 01609, MA
23,870
Population
9,126
Households
2.6
Avg Household Size
29
Median Age
49%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
6,451
Density / Sq Mi
$61,411
Median Household Income
$32,399
Median Earnings
$1,212
Median Rent
$422,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated seven-unit with individually metered utilities, coin-op laundry, and off-street parking including a two-bay garage.
Where is this apartment building located?
The property is located at 75 Chatham St Worcester, MA.
What is the asking price?
The asking price for this property is $1,349,995.
What are key features of this property?
This property features: Seven units with renovations throughout; Five heating systems newly installed; Two‑bay garage with loft above plus 10 off‑street parking spaces
