Side-by-Side Six-Unit Apartment
86-92 Hamilton St Worcester, MA 01604
For Sale
$2,300,000
Pending
Two side-by-side six-unit buildings with a sprinklered, fully renovated component, separately metered utilities, and on-site laundry.
Property Size9,234 SF
Lot Size0.29 Acres
Days on Market51
Property Features for 86-92 Hamilton St
General Information
- Standard status
- Pending
- Size
- 9,234 SF
- Lot size
- 0.29 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1920
Listing Agency:
(617) 910-1219
Listed By:
Ethan Lazar
(617) 910-1219
Source:
Elliman
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 23 at 9:59AM
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 Ethan Lazar
Investment Insights
Based on property information with market context.
86-92 Hamilton Street includes two side-by-side six-unit apartment buildings totaling 12 units on a 0.29-acre parcel. The unit mix is two 3-bedroom/1-bath apartments, seven 2-bedroom/1-bath apartments, and three 1-bedroom/1-bath apartments, with 9,234 SF of gross living area. All units are separately metered, with tenants responsible for heat, hot water, and electricity. The 90-92 Hamilton building was fully renovated following a fire and is sprinklered, with new kitchens featuring quartz countertops and stainless-steel appliances, updated bathrooms, new flooring, and refreshed mechanicals. The 86-88 Hamilton building offers clean layouts with newer flooring, with renovations not described as as extensive.
The property includes ample off-street parking and a renovated on-site laundry facility. Nearby access is supported by walkability and transit metrics provided for the area, with a very walkable walkScore of 80 and a transitScore of 42.
This structure supports operators seeking a multi-building rental setup with a mix of apartment sizes, including multiple 2- and 1-bedroom units. With one building comprehensively renovated and the other featuring newer flooring, the property presents a straightforward, separately metered utility model alongside practical onsite amenities like laundry and off-street parking.
The property includes ample off-street parking and a renovated on-site laundry facility. Nearby access is supported by walkability and transit metrics provided for the area, with a very walkable walkScore of 80 and a transitScore of 42.
This structure supports operators seeking a multi-building rental setup with a mix of apartment sizes, including multiple 2- and 1-bedroom units. With one building comprehensively renovated and the other featuring newer flooring, the property presents a straightforward, separately metered utility model alongside practical onsite amenities like laundry and off-street parking.
Key Highlights
- 86‑92 Hamilton St features 12 total units in two side‑by‑side six‑unit buildings on a 0.29‑acre parcel.
- Unit mix: two 3 bed/1 bath, seven 2 bed/1 bath, and three 1 bed/1 bath, totaling 9,234 SF gross living area.
- 90‑92 Hamilton was fully renovated after a fire and is sprinklered, with new kitchens (quartz countertops, stainless steel appliances) and new bathrooms.
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 | $238.2k | $25.80 |
| − Vacancy | −$11.9k | −$1.29 |
| EGI | $226.3k | $24.51 |
| − OpEx | −$101.8k | −$11.03 |
| NOI | $124.5k | $13.48 |
9,234 SF · lease $25.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.07M
NOI $124,479 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,748 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two side-by-side six-unit buildings with a sprinklered, fully renovated component, separately metered utilities, and on-site laundry.
Where is this apartment building located?
The property is located at 86-92 Hamilton St Worcester, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 86‑92 Hamilton St features 12 total units in two side‑by‑side six‑unit buildings on a 0.29‑acre parcel.; Unit mix: two 3 bed/1 bath, seven 2 bed/1 bath, and three 1 bed/1 bath, totaling 9,234 SF gross living area.; 90‑92 Hamilton was fully renovated after a fire and is sprinklered, with new kitchens (quartz countertops, stainless steel appliances) and new bathrooms.
